Centre's EV push lifts electric mobility stocks up to 5%
· Automobile · Economic Times, Car and Driver, Hindustan Times
The Centre made electric vehicles the default choice for government staff-car procurement and doubled the price ceiling to Rs 20 lakh on November 11, spurring a rally in electric mobility stocks. Mahindra & Mahindra led the gains with an intra-day rise of nearly 5%, while Ola Electric advanced 3.53%. Other top performers included Hyundai Motor India up 3.08% and TVS Motor Company up 2.89%. The move directly targets government procurement and aims to boost domestic electric vehicle adoption.
Why it matters
Government staff-car procurement now favours electric vehicles, creating immediate demand for EV manufacturers like M&M and Ola Electric and accelerating their market growth. This policy shift directly benefits Indian EV investors and could reshape the domestic auto sector's future.
Read the original report — Economic Times
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