Are Auto Ancillary Stocks the Backbone of India’s EV Revolution?
When we think of electric vehicles (EVs), we often picture high-tech cars and bikes. But what powers these EVs behind the scenes? It’s the auto ancillary industry. Auto ancillary companies manufacture the nuts, bolts, and key components that keep vehicles moving, whether it’s a petrol car or an electric scooter.
With India’s rapid shift towards EVs, auto ancillary companies are becoming an important part of this green transformation. In this article, let’s explore why these stocks might just be the right option for you. Let’s get started!
India’s Electric Leap
India is going all-in on EVs. With growing concerns about air pollution and the need to cut fuel imports, the government has set ambitious targets. By 2030, EVs are expected to make up 30% of private cars, 70% of commercial ve...