The Electric Vehicle is a Revolution and it is about to accelerate in India. Lithiumion battery manufacturers stocks will give multibaggers return in the long run.
The Government of India is fully dedicated to make India a 100% EV nation by 2030. It led to a sharp rally in the stock of companies with an exposure to EVs. Electric vehicles (Cars, Buses) will be the future of our country. Very soon the running cost of the vehicle could be around 20 to 30 paisa per km. It can attain the speed of 40-50 km per hour. Due to cost efficient people will soon shift from petrol/Diesel vehicles to electric vehicles. The most important thing is that the Electric Vehicles could create $300 Billion Domestic Battery Market by 2030. One more thing you have to notice is that the government had launched the FAME INDIA scheme in 2015. It offers incentives on electric and hybrid vehicles of up to Rs 29,000 for bikes and Rs 1.38 lakh for cars. So if you want 30-40% compound annual growth rate (CAGR) then you have to consider this sector. You must add electric vehicles stocks into your portfolio.