India’s OEMs accelerating shift towards EVs: HDFC Securities
India’s automobile OEMs are accelerating their shift towards EVs by investing in startups and enhancing collaborations, HDFC Securities said.
“Along with developing electric products in-house, OEMs are open to collaborations, to reduce the speed-to-market as well as maintain capital efficiency,” HDFC Securities said in a report.
“Part suppliers are attempting to be segment agnostic, developing components for ICE, hybrid and EV products.”
Further, the report cited that other OEMs are adopting different methods towards electrification such as investing in startups and ramping up production of EVs in their portfolios.Besides, it said that passenger vehicle OEMs such as Maruti are expected to introduce hybrid models, which will enable the company to transition towards EVs in the medium term (FY25-30).
