Performance Evaluation of Electric Vehicle Stocks: Paving a Way Towards Green Economy

Transportation contributes 24% of worldwide fossil fuel combustion carbon (IEA 2020). Electric vehicles (EVs) will help in decarbonizing the transportation industry to promote climate action globally (Coignard et al 2018, Taljegard 2019, Muratori 2021, Dioha 2022). Battery EVs (BEVs) led the rise from practically zero in 2010 to over 16 million in 2021. (IEA 2022). The IEA's 2021 Global EV Outlook estimates that by 2030, 145 million EVs will make up 7% of the global vehicle pool (IEA 2021) As part of the EV30@30 Campaign, India has set a goal of reaching a 30 percent share of electric vehicles (EVs) by the year 2030. EVs would have the following effects: a) a decrease in the amount of petroleum fuel used for road transportation; b) a change in consumer demand away from automobiles with internal combustion engines and toward EVs; and c) a need for an increased amount of energy and a charging infrastructure. These changes will impact many stakeholders. This study attempts to encapsulate India's EV transition and its players. Over the past 5–10 years, EVs have grown in popularity and market share. Pure electric vehicle firms are increasing. This review article also examines the significance of the factor and the expected return rate for the AEV industry based on the study of selected EV businesses and found that EV stock prices are significantly affected.