3 weeks ago
5 EV Supply Chain Stocks to Watch in 2026
India wants lots of electric vehicles to drive on its roads.
To build an electric car, companies need many parts like lights, brakes, bearings, and lighter materials.
This article looks at five Indian companies that make these parts.
Olectra Greentech makes big electric buses for cities and has already put more than 3,600 of them on the road.
NRB Bearings makes small round parts called bearings that help wheels spin smoothly.
Sharda Motor makes exhaust systems and lightweight parts for many different kinds of vehicles.
Fiem Industries makes lights and mirrors for two-wheelers like scooters.
ASK Automotive makes brakes and lightweight aluminium parts for vehicles.
The Indian government is helping electric vehicles grow with special programs that give support and money.
These companies all made more money last year, but buying their stocks is still risky, so investors should be careful.
Five Indian companies are highlighted as key EV supply chain stocks to watch in 2026: Olectra Greentech, NRB Bearings, Sharda Motor Industries, Fiem Industries, and ASK Automotive.
Olectra Greentech has deployed more than 3,600 electric buses and 116 electric tippers, delivering 1,280 buses in FY26 with revenue of Rs 18,351.8 million.
NRB Bearings holds nearly 60% market share in India's needle roller bearing segment and has secured lifetime-nominated business worth over Rs 7,500 million, mostly for EV platforms.
Fiem Industries supplies lighting and components to EV makers including OLA Electric and Ather Energy, reporting FY26 revenue of Rs 28,156.09 million.
ASK Automotive, the largest of the five by revenue at Rs 41,763.2 million in FY26, says EV-related revenue currently contributes about 4.5% of its business.
- Who
- Five Indian EV supply chain companies: Olectra Greentech, NRB Bearings, Sharda Motor Industries, Fiem Industries, and ASK Automotive
- What
- An analysis of five EV supply chain stocks to watch in 2026, covering their products, financial performance, and growth opportunities
- Where
- India
- When
- FY26 results, with Q4 FY26 and Q1 FY27 figures referenced
- Why
- Government initiatives such as PM E-DRIVE, PM eBus Sewa, and the PLI Scheme, along with accelerating EV adoption, are driving supply chain growth
Key facts
- Companies profiled
- Olectra Greentech, NRB Bearings, Sharda Motor Industries, Fiem Industries, ASK Automotive
- Olectra Greentech FY26 revenue
- Rs 18,351.8 million
- NRB Bearings FY26 revenue
- Rs 13,351.5 million
- Sharda Motor FY26 revenue
- Rs 33,968 million
- Fiem Industries FY26 revenue
- Rs 28,156.09 million
- ASK Automotive FY26 revenue
- Rs 41,763.2 million
- Electric bus penetration in India (FY26)
- Nearly 4.7% of the overall bus industry
- Supporting government schemes
- PM E-DRIVE, PM eBus Sewa, PLI Scheme for Automobile and Auto Components, Make in India










