Sector coverage

Electric Vehicles

Penetration, batteries, charging, policy and the OEMs and suppliers riding the transition.

Market performance

EV basket vs Nifty 50

As of 12:43 IST, 13 Oct 2026 · refreshed every weekday at 4:00 PM IST

EV basket

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Nifty 50

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Relative

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Today's moves in the basket (7 companies)

Company	NSE symbol	1D change
Sona BLW Precision	SONACOMS	▲ +0.75%
JBM Auto	JBMA	▲ +0.52%
Olectra Greentech	OLECTRA	▲ +0.49%
Amara Raja Energy & Mobility	ARE&M	▲ +0.32%
Exide Industries	EXIDEIND	▲ +0.06%
Ather Energy	ATHERENERG	▼ -2.50%
Ola Electric	OLAELEC	▼ -3.46%

Equal-weighted basket of listed Indian EV, battery and EV-component companies. Price data via Yahoo Finance, end of day; for information only, not investment advice.

Tuesday, 13 October 2026

India EV retail sets an all-time monthly high in September

Vahan data shows 3,33,571 EVs registered in September, up from 3,02,746 in August. Electric four-wheelers hit a record 36,010 units, with penetration rising to 8.5% for cars and 11.6% for two-wheelers. Tata Motors still leads e-4W with over 41% share, ahead of Mahindra and JSW MG; TVS, Bajaj and Ather lead e-2W.

Why it mattersDouble-digit 2W penetration and a fast-rising 4W share strengthen the case for cell, battery-pack and charging capex, and keep consolidation among sub-scale e-2W players on the agenda.

Source: EVreporter

Tesla Q3 deliveries beat consensus, but energy storage disappoints

Tesla delivered 486,532 vehicles in Q3 2026 against a company-compiled consensus of 461,974, down 2.1% YoY but up 1.3% QoQ. Deliveries exceeded production by about 22,000 units, implying an inventory drawdown. Storage deployments of 13.7 GWh fell short of the ~15.9 GWh expected.

Why it mattersFlat global volumes from the category leader are a useful reference point when benchmarking growth assumptions and multiples for listed Indian EV names.

Source: Electrek

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Key terms

Glossary →

Penetration: EV sales as a share of total sales in a segment, for example e-2W units divided by all 2W units. This is the main measure of how far the transition has progressed.
LFP vs NMC: The two dominant lithium-ion cell chemistries. LFP (lithium iron phosphate) is cheaper, safer and longer-lasting but less energy-dense. NMC (nickel manganese cobalt) offers more range per kg at a higher cost and with more commodity exposure.
$/kWh: Battery pack cost per kilowatt-hour of capacity. Because the pack is the largest cost in an EV, this figure drives price parity with ICE vehicles.
PLI (ACC / Auto): Production Linked Incentive schemes that reward incremental domestic sales of Advanced Chemistry Cells and of advanced automotive technology. Eligibility depends on localisation and investment thresholds.
PM E-DRIVE: India's demand-incentive scheme for e-2W, e-3W, e-buses, e-trucks and charging infrastructure, which succeeded FAME-II.
Vahan: MoRTH's national vehicle registration database. It is the standard source for monthly EV registration data in India.