MAY 08, 2025

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Electric vehicles (EVs) are reshaping India’s auto industry. Here are the top Indian EV companies ranked as per their market capitalisation. [{ "selector": ".qcmmt-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }]

Mahindra and Mahindra

Market cap: ₹3.77 lakh crore M&M is a leader in electric SUVs and three-wheelers, expanding its EV lineup with models like XUV400 EV and Treo Electric Auto. [{ "selector": ".cfuzo-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-349px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".lbeqp-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".aqdgl-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }]

Eicher Motors

Market cap: ₹1.46 lakh crore Eicher is advancing in electric mobility with the Pro 2055 EV truck and Royal Enfield's upcoming electric motorcycles. [{ "selector": ".ggfxc-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-343px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".tfmcs-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".godrl-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }]

Maruti Suzuki

Market cap: ₹3.90 lakh crore Maruti Suzuki is set to enter the EV market with its first electric car launch in 2025 and plans to invest ₹10,000 crore in EV manufacturing and infrastructure. [{ "selector": ".jbonu-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-349px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".klsnz-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".ccscb-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }]

Ather Energy

Market cap: ₹11,328 crore Ather Energy is a leading Indian electric two-wheeler manufacturer known for its smart scooters like the Ather 450X, with backing from Hero MotoCorp. [{ "selector": ".szetk-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-349px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".jdtor-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".xewol-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }]

Samvardhana Motherson

Market cap: ₹99,360 crore Samvardhana Motherson invested $15 million for an 11% stake in REE Automotive, boosting its supply chain capabilities. [{ "selector": ".aatee-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-341px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".osrtw-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".plckg-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }]

Polycab India

Market cap: ₹86,280 crore Polycab is contributing to the EV ecosystem with components like EV cables, charging infrastructure and solutions showcased at Auto EV India 2024. [{ "selector": ".xesdf-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-338px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".kbfot-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".zdkjz-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }]

Ashok Leyland

Market cap: ₹64,508 crore Ashok Leyland, through its arm Switch Mobility, is focusing on electric trucks like the BOSS 14T EV and AVTR 55T EV for sustainable transport. [{ "selector": ".aigzc-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-345px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".pazcc-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".kdodi-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }]

UNO Minda

Market cap: ₹52,705 crore Uno Minda is investing ₹423 crore to manufacture EV powertrain components like e-axles and inverters for four-wheelers. [{ "selector": ".fufui-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-336px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".tddnf-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".txwoo-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }]

Greaves Cotton

Market cap: ₹4,364 crore Greaves Electric Mobility, a subsidiary of Greaves Cotton, manufactures electric vehicles under the Ampere and ELE brands. [{ "selector": ".knibu-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-348px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".fdfmo-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".uewru-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }]

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