Automotive ancillaries shifting to green manufacturing, invests in EVs

Sensing a global opportunity in the electric vehicles (EV) segment, Indian automotive ancillaries are shifting gears in sync with the trend, said a top industry sector official.
Many of the players in the $46 billion (FY21) industry are also supplying to non-auto sectors like defence, railways and aerospace, Automotive Component Manufacturers Association of India (ACMA) President Sunjay J. Kapur said.
“About 60 per cent of our Executive Committee members (about 50) are ready to supply components for EVs and the remaining 40 per cent will be ready next year. EV is an opportunity for Indian auto component makers. Electrification is happening by government regulation and consumer demand.”