Companies making electric vehicles or supplying EV-specific components, per their own annual reports — tiered so an EV maker and a company with an announced EV plan never look the same.
MCSL has signed a Preferred Financier Agreement with Greaves Electric Mobility (and an MoU with BGauss Auto, p35) to finance electric two-wheeler purchases, representing newly announced EV financing partnerships.
“POWERING THE FUTURE OF E-MOBILITY TOGETHER Muthoot Capital Services Ltd. is delighted to announce the signing of a Preferred Financier Agreement with Greaves Electric Mobility Limited in Bengaluru.”
Company is proposing to amend its MOA to add manufacturing of all kinds of automobiles including electrical vehicles as a new business activity, indicating planned entry into EVs.
“9. To carry on the Business of Designing, simulation, testing, product development, production engineering and manufacturing of all kinds of Automobiles (including Internal Combustion Engines, Electrical vehicles) & high precision parts for Cargo movement, passenger movement”
Company is seeking shareholder approval at the AGM to alter its objects clause to add manufacturing, assembling and trading of electric vehicles, e-rickshaws, electric two/three/four-wheelers and EV charging infrastructure as permitted activities.
“To carry on the business of manufacturing, assembling, importing, exporting, buying, selling, leasing, distributing, servicing and dealing in electric vehicles, electric automobiles, e-rickshaws, electric two wheelers, three wheelers, four wheelers, commercial vehicles, batteries, lithium-ion batteries”
Actively planning to participate as a Charge Point Operator under the PM e-Drive EV charging programme through consortium/partnership models; no revenue yet.
“we are actively planning to participate as a PM e-Drive EV Charging Station Operator (CPO), carefully evaluating site control, sanctioned power loads, and payment architecture to ensure strong, site-specific station economics.”
Calcom has developed EV Type-2 chargers and produced 25 samples for prospective customers, but awaits approvals before any large-scale deployment.
“Your Company has successfully completed the development of EV Type-2 Chargers and manufactured 25 samples, which have been provided to prospective customers. The Company is currently awaiting customer feedback and approvals before commencing large-scale deployment.”
“We are consistently expanding our offerings across smart, outdoor, industrial, emergency and solar lighting segments, alongside emerging categories including BLDC fans and EV chargers.”
EV charging infrastructure is included in the company's amended object clause following its diversification into the energy sector, but no concrete EV-related orders or revenue are mentioned yet.
“The amended objects, inter alia, provide for undertaking activities relating to generation, production, transmission, distribution, trading and supply of electricity and energy from renewable and conventional sources, energy storage systems, Battery Energy Storage Systems (BESS), electric vehicle (EV) charging infrastructure and allied technologies and services”
Company altered its MOA during FY25-26 to add EVs (including batteries, charging, components, servicing, R&D) as a permissible business object, but no operations or revenue yet.
“to undertake business activities relating to electric vehicles (EVs), including EVs, batteries, charging infrastructure, components, servicing and R&D”
E-mobility is listed as one of several industry segment areas served by BHEL, with no specific EV products, orders, or revenue mentioned in the provided text.
“The Industry Segment caters to major equipment supplies and EPC works for a number of industries including transportation, transmission, defence & aerospace, captive power plants, process industries, renewables, upstream and downstream oil & gas, e-mobility and energy storage, among others.”
CG's Stamping and Laminations product line is listed as supplying laminations for electric vehicles, but no dedicated EV programme or revenue scale is described.
“Railway motors, electric vehicle laminations.”
EV is referenced only as a future grid-integration theme in the CMD's vision statement; NHPC does not manufacture EVs or EV components.
“The vision also emphasizes meeting sustainable energy targets through the integration of Artificial Intelligence (AI), along with the adoption of other new and emerging technologies such as: EV integration into the grid, cybersecurity and digital protection, green hydrogen, bioenergy and energy storage.”
EVs are referenced as a target market for APAR's speciality automotive range (which includes BOLT Battery), but no explicit EV-specific component manufacturing is described in the text.
“A speciality automotive leader, delivering holistic mobility solutions across diverse vehicle segments including two-wheelers, three-wheelers, passenger cars, commercial vehicles, and the rapidly growing electric vehicle market for enhancing engine efficiency, cutting emissions, and meeting latest environmental regulations.”
EVs cited only as an industry tailwind driving demand for fluorochemicals; no direct EV exposure.
“emerging sectors like renewable energy and EVs, AI-driven hyper-data centres and semiconductor manufacturing are increasing demand for high-performance fluorochemicals and specialty chemicals.”
The SK Enmove JV product list includes E-fluids for EVs and E-thermal fluids, positioning Gabriel India in EV-adjacent lubricants, though no current EV-specific revenue exists.
“E-fluids for electric vehicles”
EV transition is cited as a demand driver for CNC machines, but the company does not make EVs or EV-specific components.
“Electric mobility: The transition to electric vehicles is generating demand for new component geometries and dedicated tooling.”
Electric mobility is cited as an emerging customer-need area and 'Electric Vehicles' is listed as a downstream industry, but no specific EV product line, revenue or committed project is disclosed.
“Customers today are looking beyond standard products for specialised, high-performance solutions, especially in areas like electric mobility, electronics and precision manufacturing.”
EV integration into the grid is mentioned only as part of the Chairman's aspirational vision, with no EV manufacturing, sales or component business disclosed.
“The vision also emphasizes meeting sustainable energy targets through the integration of Artificial Intelligence (AI), along with the adoption of other new and emerging technologies such as: EV integration into the grid, cybersecurity and digital protection, green hydrogen, bioenergy and energy storage.”
EVs listed only as a future adjacency focus area in their roadmap under 'Others', with no concrete plans, capex or revenue mentioned.
“Others y Electric Vehicles y Ownership/Rideshare y Connected Vehicles y Emerging Trends”
MD&A flags the EV transition as opening demand for forged motor shafts, drivetrains and structural parts, positioning EVs as a sector tailwind for the Company's forgings business.
“The transition towards electric vehicles (EVs) opened new avenues for forged components in motor shafts, drivetrains, and structural parts, even as internal combustion engine (ICE) platforms sustained volume.”
EV battery chemicals are listed as an emerging application/growth driver for the Indian aliphatic amines sector in which Balaji operates, but are not part of the company's current product portfolio.
“Emerging applications in automotive and electronics sectors, including EV battery chemicals, electronics-grade solvents, semiconductor cleaning agents, and lightweight material additives.”
Electric-vehicle battery value chain listed by management as a potential future application area being evaluated; no current EV or EV-battery operations.
“We are evaluating new chemical molecules, new business chains and opportunities in ultra-pure and other specialised applications, with potential applications identified by management including food, pharmaceutical, semiconductor and electric-vehicle battery value chains.”
Their monazite (within HMS) contains Nd/Pr that may be separated into rare-earth oxides for permanent magnets used in EV traction motors.
“It contains elements such as neodymium and praseodymium, which may be separated into rare-earth oxides used to manufacture permanent magnets for electric vehicles, wind turbines, electronics and defence systems.”
The company serves the EV Charging industry and has installed EV charging infrastructure at its own premises while using EVs internally, but does not manufacture EVs or EV-specific components.
“Axis has also adopted Electric Vehicles (EVs) for internal logistics and employee transportation while installing EV Charging Infrastructure at our premises.”
Indirect exposure via 99.99% subsidiary Jindal Steel & Alloys Ltd, which is described as undertaking activities relating to electric vehicles (alongside steel as its principal business).
“The Company is also involved in the development and operation of industrial, infrastructure and energy projects, and undertakes activities relating to mining, automobiles, electric vehicles, batteries, real estate development, commodity trading and strategic investments.”
EV infrastructure is referenced only as a consultancy/advisory area within the company's expanded main object clause; no EV manufacturing or component supply is indicated.
“It also offers design and technical know-how for power sector applications including transformers, solar, EV infrastructure, and energy distribution.”
aerCar is named as the terrestrial-mobility pillar of the aerVerse ecosystem; aerpace Supercars subsidiary hints at car ambitions, but no concrete EV product, revenue or capex is disclosed.
“aerCar for terrestrial mobility”
EV two-wheeler project with Revolt Motors is referenced solely as an unrealised revival proposal that the West Bengal government did not take forward; Hindustan Motors itself has had no operations since 2014.
“further EV bike project in collaboration with a European collaboration -Revolt Motors”
Forward-looking mention of leveraging EV-related logistics as part of clean-energy strategy; no current EV business or revenue.
“The Company is leveraging its expertise in solar logistics to build capabilities in the rapidly emerging Battery Energy Storage System (BESS) segment and Electric Vehicles, which is expected to play a pivotal role in India's clean energy transition.”
EVs are cited only as a future demand driver for distribution automation; EV charging is listed as part of an aspirational integrated renewable-energy strategy with no current revenue.
“The increasing penetration of electric vehicles, rooftop solar, distributed generation and other flexible loads is transforming the traditional one-way electricity network into a more dynamic and bidirectional system.”
Aluminium casting company identifies EV applications (battery/motor/inverter housings, structural parts) as a future growth opportunity; not described as a current revenue driver and sits within the MD&A outlook section.
“The increasing adoption of electric vehicles is also creating new opportunities for aluminium casting manufacturers through applications such as battery housings, motor housings, inverter housings, structural components and other lightweight components.”
Goyal Aluminiums' only link to EVs is via its 33.33% associate-company stake in Wroley E India, which makes and trades EVs and related powertrain components; the AGM notice (Item 5) is seeking approval to divest this stake entirely, so the EV exposure is winding down.
“Wroley engaged in the manufacturing, trading, fleet operating, leasing and renting of all Electric Vehicle i.e., two, three, four and multi wheeler including Electric bicycle, E-Cart, Electric Buses, Electric heavy weight Vehicles that can be charged through Solar Energy or Electricity generated through any renewable / non-renewable source of Power and Spare parts thereof inclusive of any equipment (like motors, controllers, Power trains, Batteries or any advanced energy storage devices like lithium ion battery, super capacitors, fly wheels, GPS systems and its variants”
Company mentions its general electrical components seeing demand tailwinds from the EV ecosystem, but does not manufacture EV-specific parts or traction/power electronics.
“Our precision-engineered products like switches, plugs, MCB covers, and emergency lights have seen increasing demand with the expansion of the EV ecosystem and smart-home products.”
EVs are referenced only as a market rationale for acquiring Aerocom Automotives, an automotive component maker for Mahindra & Mahindra; no EV-specific products or components are described.
“In order to tap the growing market of the automobile industry and to benefit from the increasing demand of electric vehicles, we intend to grow and diversify our business operations by acquiring this Entity.”
Electric Vehicles are listed among the proposed new product areas under the 'Green Technology & Sustainable Development' vertical; no current operations or revenue.
“To manufacture, trade in, and deal with products and solutions related to Hydrogen Fuel, Drones, Electric Vehicles (EVs), and Waste-to-Energy technologies.”
PVV Infra lists PVV EVtech Private Limited as one of four subsidiaries, but the MD&A and business description make no mention of any EV operations, products or revenue.
“2) PVV EVtech Private Limited”
EVs mentioned only as industry outlook context for the auto components business; no specific EV products or revenue indicated.
“Combustion Engine (ICE) vehicles and EVs are expected to grow well in the next 3-5 years.”
EV ecosystem is listed only as an emerging investment theme in India; the company has no operational EV exposure.
“Investment avenues in renewable energy, Artificial Intelligence (AI), the electric vehicle (EV) ecosystem, and biopharma are expanding as India aligns with global supply-chain realignments.”
Definition used: Manufactures or sells electric vehicles, or supplies EV-specific components: traction motors, power electronics, EV batteries, charging infrastructure. Membership is extracted from each company’s newest annual report; every quote is validated against the report page before publishing, and core/growing tiers are confirmed by a second independent read (marked ). Companies whose reports our corpus hasn’t read yet simply aren’t listed — absence means unread, not “no exposure”.
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