Electric Vehicle (EV) industry is at a nascent stage in India. It accounts for just 1.3% of total vehicle sales as of FY 2020-21

According to a report by consulting firm RBSA Advisors, India's EV market is expected to grow at a Compounded Annual Growth Rate (CAGR) of 90% in this decade to touch US$150 bn by 2030. 

In this story will look at some diversified equity mutual funds with high exposure to EV stocks.

1. L&T Large & Midcap Fund

Top EV stock holdings of L&T Large & Midcap Fund - Reliance Industries Ltd. - 5.45% Tata Power Company Ltd. - 3.12% Sona BLW Precision Forgings Ltd.-2.59% Tata Motors Ltd. - 2.38% Minda Industries Ltd.- 2.39%

2. Templeton India Value Fund

The EV portfolio of Templeton India Value Fund includes auto OEMs such as Tata Motors and Bajaj Auto, and EV charging infrastructure providers such as NTPC, Indian Oil Corporation, Power Grid Corporation, and Bharat Petroleum Corporation

3. Quantum Long Term Equity Value Fund

Quantum Long-Term Equity Value Fund holds a compact portfolio of 29 stocks of which around 7 are EV-related accounting for 20.2% of its assets. Such as Mahindra & Mahindra, Bajaj Auto, Eicher Motors, and Hero Motocorp

4. Axis Value Fund

Axis Value Fund currently has 32 stocks in its portfolio, of which 7 are EV-related. Its EV portfolio currently accounts for about 19.5% of its assets, with names such as Tata Motors and Mahindra & Mahindra as its top allocations. 

5. HDFC Large & Midcap Fund

HDFC Large & Midcap Fund currently held a large portfolio of 131 stocks, of which around 17 are EV-related .

5. HDFC Large & Midcap Fund

HDFC Large & Midcap Fund invested such as Tata Motors, Sona BLW Prcision Forgings, Bharat Forge, Ashok Leyland, Motherson Sumi Systems, Exide Industries, TVS Motor Company, Mahindra & Mahindra, and Hero MotoCorp