⚡ At a glance
India’s EV supply chain in 2025 is no longer just a “theme” — it’s a full-blown stock market genre. From semiconductors to charging stations, chemical dudes to connector bros, everyone’s got a shot at becoming the “next Tesla supplier.” The result? A red-hot, high-voltage rally across EV component stocks that’s melting valuations faster than your iPhone charger melts your palm.
🚙 Wait… What Exactly Is the “EV Supply Chain”?
Glad you asked. Most people think EV = electric car companies.
But the real money is in:
| Layer | What’s Hot | Examples |
|---|---|---|
| 🔋 Batteries | Lithium cells, BMS, pack assembly | Amara Raja, Exide Energy, Godi India |
| 🔌 Charging Infra | EV chargers, management systems | Servotech, Statiq, ChargeZone |
| 💻 Semiconductors | Controllers, sensors, chips | Kaynes, SPEL, Syrma SGS |
| ⚙️ Components | Axles, gears, connectors, wiring | Simmtech, Suprajit, SJS Enterprises |
| 🧪 Chemicals | Electrolytes, additives | Neogen Chemicals, Tatva Chintan |
| 🏭 Manufacturing | Assemblers, EMS providers | Dixon Tech, Avalon, Syrma again |
🔥 Why Is This Getting Hotter Now?
Let’s plug in some triggers (pun 100% intended):
1. Budget 2025: Big Boi Capex
- FM Nirmala dropped a fat 💰 on EV infra.
- ₹8,000 crore for EV charging infra
- and battery swapping.
- 50% viability gap funding extended to tier-2 cities.
2. FTA with UK & EU
- Customs duty relief for EV parts importers.
- Big win for companies sourcing tech from abroad.
3. PLI Schemes Galore
- PLI for Advanced Chemistry Cells (ACC) = ₹18,100 crore.
- EV auto + auto component = ₹26,000 crore.
Add this all up = India has more incentives than Tinder Premium for EV makers.
💼 Who’s Making the Real Money?
Let’s expose the hidden heroes (and some sneaky posers):
🔋 Battery Boys
| Company | FY25 Revenue | EV Biz Share | Comment |
|---|---|---|---|
| Amara Raja Energy | ₹11,275 Cr | ~20% EV | Gigafactory under construction |
| Exide Energy | ₹17,393 Cr | ~10% EV | Linked with Hyundai & Tata |
| Godi India (Unlisted) | — | Niche | India’s only solid-state R&D leader |
🔌 Charger Chargers
- Servotech Power Systems: Up 320% in 1 year, tied with Bharat Petroleum for 5,000+ chargers.
- Delta Electronics India: Big in
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