Global giants like Tesla, BYD, and XPeng are also shaping the future of electric mobility
The electric vehicle (EV) industry is growing at a fast pace across the world. In India, companies like Sona Comstar and Tata Motors are becoming important players in this field. This article takes a closer look at their recent progress, along with some other global EV companies worth watching.
Sona Comstar: A Key Supplier for EVs
Sona Comstar is a major supplier of parts for electric vehicles. Instead of making EVs themselves, the company focuses on making important parts like differential assemblies, gear sets, and motors that EV makers need.
Recent Financial Growth
Sona Comstar has seen strong growth in its electric vehicle business. Recently, its revenue from battery electric vehicles (BEV) grew by 38% compared to the previous year. Today, electric vehicles make up about 36% of the company’s total revenue. This shows how important the EV segment is becoming for Sona Comstar.
The company also benefits from tariff relief in the United States, where a 3.75% import duty reduction makes it easier and cheaper to sell its products to North American customers. This helps the company stay competitive in the global market.
New Partnerships and Projects
Sona Comstar is not just depending on current business, but also preparing for the future:
Partnership with C-Motive Technologies: The company is working with an American firm to develop new types of motors that don’t need magnets. These electrostatic motors are expected to enter production by 2026.
Alliance with MoEVing: By partnering with an Indian EV fleet operator, Sona Comstar can study how EVs perform in real-world situations. This helps improve their products for commercial use.
New Factory in Mexico: To serve global clients better, Sona Comstar has built a new plant in Mexico. This plant will supply gear assemblies and other parts mainly for electric vehicles.
Major Order from North America: The company recently received a large order worth ₹1,520 crore to supply parts to a North American EV manufacturer.
Why Sona Comstar is Attractive
Sona Comstar’s focus on supplying high-value components, combined with its partnerships and global expansion, makes it a strong candidate for long-term growth. As more automakers produce EVs, demand for parts like those made by Sona Comstar is expected to increase.
Tata Motors: Leading India’s EV Revolution
Tata Motors has become a leader in India’s electric vehicle market. Through its dedicated EV arm called Tata.ev, the company has started making profits from its electric vehicle business.
Financial Plans and Expansion
Tata Motors has ambitious plans to grow its EV business. The company aims to invest ₹33,000–35,000 crore (around $4.1 billion) over the next five years. This money will be used to develop new electric vehicles and improve existing models.
The company plans to expand its lineup from eight EV models to fifteen in the coming years. Some of the upcoming models include:
Sierra EV
Avinya (a futuristic concept car)
Curvv EV
Harrier EV
Launch of the Harrier EV
Tata Motors recently launched the Harrier EV, a premium electric SUV. It features:
All-wheel drive system
Dual motors that deliver 504 Nm of torque
A large 75 kWh battery
Fast charging capability of 120 kW
Acceleration from 0 to 100 km/h in just 6.3 seconds
The Harrier EV is priced at ₹21.49 lakh, which makes it affordable compared to many global electric SUVs with similar features.
Focus on Technology
Tata.ev is also focusing on technology. It has become the first Indian carmaker to introduce Apple Wallet Car Key support. This feature allows car owners to unlock and start their vehicle using an iPhone or Apple Watch through NFC (Near Field Communication) and UWB (Ultra-Wideband) technology.
Long-Term Goals
By 2030, Tata Motors aims to capture an 18–20% share of India’s entire passenger vehicle market, focusing heavily on electric vehicles. The company is also expanding its EV charging infrastructure to support the growing number of EV users.
Other Global EV Companies to Watch
While Indian companies like Sona Comstar and Tata Motors are growing rapidly, several international EV companies are also shaping the global EV market.
Tesla
Tesla remains one of the most well-known electric vehicle companies in the world. However, Tesla has faced some challenges recently:
Sales have slowed down in the United States and China.
The company’s stock price has dropped around 24% so far this year.
Despite these issues, Tesla is still moving forward with projects like robotaxis.
BYD
BYD, based in China, is now selling more electric cars than Tesla. In the first quarter of 2025, BYD sold about 1 million EVs, while Tesla sold about 336,000. BYD is also building high-speed charging stations to support its growing customer base.
Other EV Makers
Several other electric vehicle companies are gaining attention:
Rivian: Known for its electric trucks and SUVs.
Li Auto, XPeng, and NIO: Chinese EV makers with strong sales growth, especially XPeng, which has seen a 135% increase in stock price over the last year.
EV Parts Suppliers
Besides companies that make cars, some suppliers also present good investment opportunities:
Aptiv: Specializes in electrical systems and software for EVs.
BorgWarner: Produces EV powertrain components.
Some experts suggest that these suppliers may offer better value for investors compared to some high-priced EV manufacturers.
Key Factors to Watch in the EV Industry
Several important developments may influence EV companies shortly:
New product launches: Both Sona Comstar and Tata Motors have exciting new products lined up for the next few years.
Government policies: New rules in India, the US, and other countries can affect how quickly electric vehicles become popular.
Quarterly earnings: Financial reports from companies like Tesla, Li Auto, NIO, and Rivian will provide important updates on their performance.
Supply chain stability: The availability of critical materials like semiconductors remains a key concern for the industry.
Sona Comstar and Tata Motors are two of the most promising EV stocks in India right now. Each company brings something different to the table:
Sona Comstar focuses on making high-tech parts for electric vehicles, with strong growth in both India and international markets.
Tata Motors is becoming a market leader in selling electric cars in India, backed by new models, large investments, and advanced technology.
At the same time, global players like Tesla, BYD, Rivian, and Chinese EV companies continue to compete for leadership in this fast-growing industry. Suppliers like Aptiv and BorgWarner also offer interesting opportunities for investors looking beyond carmakers.
The global shift toward electric vehicles is creating many opportunities across different parts of the EV value chain. Companies that can combine technology, manufacturing strength, and strong customer demand are likely to succeed in this new era of transportation.
