Best IT stocks in EV segment to add to your Watchlist in 2024

Best IT stocks in EV segment to add to your Watchlist in 2024


Imagine a future where vehicles are thinking entities, communicating effortlessly with their surroundings and each other. This vision is becoming reality through AUTOSAR, the Automotive Open System Architecture segment. The AUTOSAR segment is evolving from its roots in standardizing software for traditional vehicles. Now, it’s playing a crucial role in the development of electric and autonomous vehicles. As the automotive landscape is shifting, AUTOSAR is adapting to meet new challenges and opportunities.

In this rapidly changing environment, tech companies are emerging as key players. They’re driving the electric vehicle (EV) revolution forward at an unprecedented pace. These firms are developing cutting-edge battery technologies, creating sophisticated software systems, and designing innovative charging solutions.

Furthermore, they’re pushing the boundaries of artificial intelligence and machine learning in EVs. This technological push is closely aligned with AUTOSAR’s evolving standards, creating a synergy between software architecture and hardware innovation. As a result, tech companies which are footing in the automotive segment are becoming increasingly attractive to investors.

This shift is highlighting the growing importance of IT stocks in the EV segment, making them a focal point for those looking to capitalize on the future of transportation. In this article we will be learning about some of these tech companies which are involved in the AUTOSAR segment.

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List Of IT Stocks And Their Key Metrics

KPIT Technologies

KPIT Technologies is emerging as a key player in the automotive industry. The company is focusing on providing software solutions for electric and autonomous vehicles. It is currently expanding its presence in the global market, particularly in Europe and Asia. KPIT is also developing advanced driver assistance systems (ADAS) and infotainment solutions, enhancing the overall driving experience. The company’s expertise in semiconductor chip integration is proving crucial for next-generation vehicles.

KPIT is contributing significantly to the EV segment through its innovative software platforms. The company is developing advanced battery management systems and power electronics solutions. It is also working on improving the efficiency and range of electric vehicles.

KPIT’s revenue has grown from ₹3,365 crore in 2023 to ₹4,872 crore in 2024, while its net profit increased from ₹387 crore to ₹599 crore. Additionally, KPIT is pioneering in vehicle-to-grid (V2G) technology and smart charging solutions, further accelerating EV adoption.

Future Outlook: Looking ahead, KPIT is planning to strengthen its position in the AUTOSAR segment. The company is investing in research and development to create cutting-edge automotive software solutions. It is also forming strategic partnerships with major automakers to expand its market share globally. KPIT aims to lead in autonomous driving software and cybersecurity solutions for connected vehicles, positioning itself as a crucial player in the future of mobility.

Key Metrics

Cyient DLM

Cyient DLM is emerging as a significant player in the automotive industry, offering engineering and digital solutions. The company is currently expanding its footprint in the global market, particularly in North America and Europe. Cyient is contributing to the auto sector through its innovative designs and manufacturing solutions.

It is developing advanced driver assistance systems (ADAS) and electric powertrain components. The company is also working on improving vehicle connectivity and telematics. Cyient’s revenue has grown from ₹832 crore in 2023 to ₹1,192 crore in 2024, while its net profit increased from ₹32 crore to ₹61 crore.

In the EV segment, Cyient is focusing on battery management systems and charging infrastructure solutions. The company is collaborating with major automakers to develop lightweight materials for EVs. It is also involved in designing and testing electronic control units (ECUs) for electric vehicles. Cyient’s expertise in semiconductor chip design is proving valuable for next-generation automotive electronics. The company is contributing to the manufacturing cycle through its digital twin technology and predictive maintenance solutions.

Future Outlook: Cyient is planning to strengthen its position in the AUTOSAR segment. The company is investing in research and development to create advanced automotive software platforms. It is also forming strategic partnerships with tier-1 suppliers to expand its market share. Cyient aims to lead in autonomous driving technology and cybersecurity solutions for connected vehicles. The company is focusing on developing AI-powered analytics for the automotive supply chain.

Key Metrics

TATA Technologies

Tata Technologies is revolutionizing the automotive industry with its innovative engineering and digital solutions. As a global leader, the company is currently transforming vehicle development processes and manufacturing techniques. Tata Technologies is making waves in the auto sector through its cutting-edge design and PLM solutions.

It is creating state-of-the-art virtual validation tools for electric vehicles. The company is also developing advanced manufacturing execution systems. Tata Technologies’ revenue has surged from ₹4,414 crore in 2023 to ₹5,117 crore in 2024, while its net profit grew from ₹624 crore to ₹679 crore.

In the EV realm, Tata Technologies is spearheading the development of lightweight structures and aerodynamic designs. The company is collaborating with leading automakers to optimize electric powertrains. It is also pioneering in battery thermal management systems for enhanced EV performance. Tata Technologies’ expertise in vehicle electronics is driving the integration of smart features. The company is contributing to the manufacturing cycle through its Industry 4.0 solutions and digital twin technology.

Future Outlook: Tata Technologies is gearing up to dominate the AUTOSAR landscape. The company is investing heavily in autonomous driving software and connected car solutions. It is forging strategic alliances to expand its global footprint in the automotive software market. Tata Technologies aims to lead in AI-powered predictive maintenance for EVs. The company is focusing on developing sustainable manufacturing processes for the auto industry.

Key Metrics

Tech Mahindra

Tech Mahindra is driving innovation in the automotive sector with its cutting-edge digital solutions. The company is currently transforming vehicle connectivity and user experiences through advanced technologies. Tech Mahindra is revolutionizing the auto industry with its AI-powered predictive maintenance systems.

It is developing sophisticated telematics platforms for enhanced vehicle performance. The company is also creating immersive in-car infotainment systems. Tech Mahindra’s revenue slightly decreased from ₹53,290 crore in 2023 to ₹51,996 crore in 2024, while its net profit declined from ₹4,857 crore to ₹2,397 crore.

In the EV segment, Tech Mahindra is spearheading the development of smart charging infrastructure. The company is collaborating with automakers to optimize battery management systems. It is also pioneering in vehicle-to-grid (V2G) technology for sustainable energy solutions. Tech Mahindra’s expertise in IoT is enabling real-time monitoring of EV fleets. The company is contributing to the manufacturing cycle through its blockchain-based supply chain solutions.

Future Outlook: Tech Mahindra is poised to expand its footprint in the AUTOSAR segment. The company is investing in autonomous driving algorithms and cybersecurity solutions for connected cars. It is forming strategic partnerships to enhance its automotive software capabilities. Tech Mahindra aims to lead in 5G-enabled vehicle communication systems. The company is focusing on developing AI-powered design tools for next-generation vehicles.

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Key Metrics

BirlaSoft

BirlaSoft is emerging as a key player in the automotive industry with its innovative digital solutions. The company is currently transforming manufacturing processes and supply chain operations. BirlaSoft is revolutionizing the auto sector through its advanced analytics and IoT platforms. It is developing smart factory solutions for enhanced production efficiency.

The company is also creating AI-powered quality control systems. BirlaSoft’s revenue has grown from ₹4,795 crore in 2023 to ₹5,278 crore in 2024, while its net profit increased from ₹332 crore to ₹624 crore. In the EV segment, Birlasoft is focusing on developing intelligent battery management solutions.

The company is collaborating with automakers to optimize energy consumption in electric vehicles. It is also pioneering in predictive maintenance algorithms for EV components. Birlasoft’s expertise in data analytics is driving improvements in EV range and performance. The company is contributing to the manufacturing cycle through its digital twin technology.

Future Outlook: Birlasoft is gearing up to expand its presence in the AUTOSAR segment. The company is investing in connected car platforms and over-the-air (OTA) update solutions. It is forming strategic alliances to strengthen its automotive software capabilities. Birlasoft aims to lead in AI-powered driver assistance systems. The company is focusing on developing cloud-based solutions for vehicle lifecycle management.

Key Metrics

TATA Elxsi

TATA Elxsi, a leading global design and technology services company, is actively shaping the future of the automotive industry. Leveraging its deep expertise, the company is making significant contributions to the sector, particularly in the rapidly evolving electric vehicle (EV) segment.

Notably, TATA Elxsi’s revenue increased from ₹3,145 crore in 2023 to ₹3,552 crore in 2024, while net profit grew from ₹755 crore to ₹792 crore. The company is providing innovative engineering solutions to automotive manufacturers, empowering them to develop cutting-edge electric powertrains, advanced autonomous driving technologies, and optimized vehicle architectures. Moreover, TATA Elxsi is at the forefront of AUTOSAR (Automotive Open System Architecture) implementation, helping automakers streamline their software development processes and enhance efficiency.

Future Outlook: TATA Elxsi is poised to expand its market share in the AUTOSAR segment, solidifying its position as a trusted partner in the automotive industry. Additionally, the company is actively involved in semiconductor chip programming and manufacturing, as well as automation solutions for the EV sector, positioning itself as a comprehensive solutions provider.

Key Metrics

Conclusion

The AUTOSAR segment is rapidly evolving, driven by the surge in electric and autonomous vehicles. Leading tech companies are emerging as key players, developing cutting-edge software, battery, and charging solutions. These IT stocks in the EV segment are attracting increasing investor interest as the future of transportation takes shape. 

What innovative AUTOSAR-aligned technologies are these tech firms exploring to stay ahead of the curve? How can investors capitalize on the growth potential of the AUTOSAR segment? Comment below.

Written By Dipangshu Kundu

By utilizing the stock screenerstock heatmapportfolio backtesting, and stock compare tool on the Trade Brains portal, investors gain access to comprehensive tools that enable them to identify the best stocks, also get updated with stock market news, and make well-informed investments.


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