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85% industry revenue comes from sale of components to domestic vehicle OEMs
In the domestic market, passenger vehicle (PV) OEMs contributed more than 46% to the component industry's revenue, followed by two-wheeler manufacturers at 19%, and Medium and Heavy Commercial Vehicle (M&HCV) at 7%.Read more
Cummins showcases low to zero-emission power solutions portfolio at CII EXCON 2023
Cummins Group reveals indigenous products, tailored for India market, supported by a dependable and extensive pan-India network for aftermarket parts and services.Read more
Tesla's Cybertruck launch sparks optimism for Indian auto component market
Although the US and Canada dominate 54% of the global pickup truck market, initial reports suggest that Tesla's new offering could secure nearly 7% market share in its first year.Read more
Himadri Speciality Chemical invests Rs 4,800 cr in Li-ion battery component manufacturing
The company aims to produce 200,000 tonnes of lithium iron phosphate (LFP) cathode active material, contributing to the creation of 100 gigawatt hours (GWh) of Li-ion batteries in phases over the specified timeframe.Read more
NIFCO invests Rs 288 cr in automotive plastic components plant in Karnataka
The company intends to create job opportunities for approximately 400 individuals, with 65% of them being women. The project is slated to be completed over a span of five years, commencing from 2023-24.Read more
PLI scheme: Need for a course correction
The Government of India is reportedly planning to ease some norms for five sectors (textiles, pharmaceuticals, drones, solar and food processing) to help them better utlise the fund under its Production-linked Incentive (PLI) scheme.Read more
Ashok Leyland dealer Automotive Manufacturers expands operations in UP
With the opening of its new 3S facility in Varanasi, Automotive Manufacturers will provide support to Ashok Leyland customers in the region.Read more
Indian govt considers exempting key EV components from localisation norms
However, this new consideration is met with opposition from local players such as Mahindra & Mahindra and Tata Motors, as well as foreign companies with decades-long operations in India.Read more
LAN passive components launched by Finolex Cables, extends its LAN portfolio
These are especially useful in places like data centres, IT networks, conference rooms and branch office connections with high-density switches. Read more
Spark Minda, HCMF forge innovative partnership for Sunroof Solutions in India
Under this collaboration, the two companies intend to leverage advanced technology and cutting-edge manufacturing processes to produce sunroof and closure technology products for passenger cars in India.Read more