EV

Prime Stocks update: How this EV player is placed now

We had, in mid-2021, initiated a buy call on a stock that was reinventing itself from a supplier of diesel engines into an EV player. It was an early call weโ€™d made on the EV boom, which appears well-timed as electric 2-wheeler sales jumped from 16,000 units in 2018 to 150,000 units in 2021 to a whopping 615,000 units in 2022!
With the EV 2-wheeler market now clearly segmenting itself, there is more clarity on how competition and market share is shaping up. The EV 2-wheeler industry is also going through regulatory tightening.

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Stock Recommendation : An engine maker with EV aspirations

Mobility powered by electricity is fast becoming a reality. And one space that is expected to see accelerated adoption of electric vehicles is the basic commuter space, made up of 2- wheelers, particularly scooters. Scooters are mostly used for short commutes, their electric versions have a more affordable purchase price after FAME II (Faster Adoption and Manufacturing of EV) subsidy and they have lower running costs than petrol scooters. With almost 40 lakh scooters sold in India in a year, annual sales of 40,000 units for high-speed EV scooters look small. There is scope for faster adoption driven by basic commuting, e-commerce, and low speed mobility needs.

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