There is a strong craze for electric vehicles all over the world. Keeping this in mind, EV makers are investing heavily in bringing in new models and building a strong EV portfolio. Governments all over the world including India are promoting EVs through their policies. However, it is also true that EV vehicles will not be able to establish their popularity among the people unless the focus is on strengthening the charging infrastructure of EVs. Keeping this in mind, companies making electric vehicles are focusing on setting up charging stations across the country.
Here we bring you 5 stocks that are themed on EV charging infrastructure and will see strong growth going forward.
Tata Power is one of the largest integrated power companies in India. It provides charging solutions in all segments like Home Charging, Public Charging, Work Place Charging. The company has tied up with Tata Motors, TVS, MG Motor India and Jaguar Land Rover (JLR) India for charging infrastructure development. Apart from this, the company has tied up with original equipment manufacturers to install all types of chargers at its charging stations.
As of September 2021, Tata Power has installed 5,458 home charging points, 32 e-bus charging stations and 878 EV charging stations. Recently, the company has tied up with Lodha Group and Central Railway Mumbai to install EV charging solutions in Pune and Mumbai. Apart from this, it has also developed an EV charging app through which you can locate the nearest charging station. You can get charging updates and pay charging fees online.
2 -Indian Oil Corporation
Our second favorite stock is Indian All Corporation, India’s largest refining and petroleum marketing company based on the theme of Electric Vehicle Charging Infrastructure. IndianOil plans to install EV charging stations at 10,000 petrol pumps in the next 3 years. Presently the company has 448 EV Stations and 30 Battery Changing Stations. which are spread across the country. The company has tied up with EV makers and power companies like Hyundai, Mahindra, Ola, NTPC and Tata Power to install EV charging at its petrol pumps.
Apart from this, the company has also tied up with Sun Mobility and Israel’s Finergy to strengthen its penetration in green energy in India and acquire aluminum air battery technology.
3- Bharat Petroleum Corporation
Our third stock in this list is Bharat Petroleum Corporation which is an integrated refining and marketing company. Presently the company has 44 EV Charging Stations. By October 2022, the company is planning to set up 1000 more outlets across the country. The company plans to convert 7000 of its conventional outlets into EV energy stations over the next few years. Multiple fuel options will be available at these stations. Which will include EV charging, CNG gas, petrol diesel and flexi fuel. The company will invest 50 billion on this plan in the next 5 years.
Reliance Industries is the fourth stock included in this list, which is the largest private sector corporation in India. Reliance Industries has entered into an agreement with British Petroleum to set up EV charging stations across the country under the name Jio-BP. With the first phase of this plan, Jio-BP will set up EV charging stations in the Delhi NCR region. Each such charging station can charge at least 3 cars at a time. The first such EV charging station has been installed in Mumbai, which offers multiple fuel options.
Apart from this, the company has tied up with an EV ride hailing platform Blue Smart. Under this agreement, charging stations with state-of-the-art technology will be established in India. Jio-BP has also tied up with Mahindra Group to provide charging solutions.
At the bottom of our list is ABB India. The company has 4 business divisions. This includes electrification, robotics and discrete automotion, motion, process automation. The Electrification Division of the company provides products, charging solutions to the power industries. ABB India recently launched Terra 360, the world’s fastest EV charger. Through this, a range of 100 km can be achieved in 3 minutes of charging. The company is preparing to launch Terra 360 in all the countries around the world. This technology will soon be available in India as well.
Should you invest in EV charging infrastructure themed stocks?
After Lithium Ion Batteries, the most important thing for an electric vehicle, charging stations are the most important. The EV charging station business is expected to be worth US$ 29.7 billion in the next 5 years and will see 40 per cent year-on-year growth between 2020 and 2027. Apart from this, the government is focusing on promoting EV vehicles in the country. The government plans to set up 70,000 EV charging stations across the country in the next few years. In view of this, all the listed and unlisted companies across the country are focusing on installing EV charging stations.
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