Geopolitical shifts in global trade are positioning India's auto component industry as a key player in the international supply chain, with projections indicating the sector's value could soar to USD 200 billion (EUR 160 billion) by 2030 said a recent report by McKinsey.

The report suggests that as an estimated USD 12 trillion to USD 14 trillion in global trade is expected to shift across corridors by 2035, India, aided by its cost competitiveness and skilled workforce, is emerging as a primary beneficiary. The Indian auto component industry has already experienced a compound annual growth rate (CAGR) of about 10 percent over the last five years.

The projected growth of the industry is underpinned by a two-pronged strategy focused on both traditional and future mobility technologies:

• Internal Combustion Engine (ICE) Exports: A USD 20 billion to USD 30 billion export opportunity is forecast for ICE components by 2030, as global markets consolidate their supply base.
• Electric Vehicle (EV) Growth: Domestic EV sales are expected to see a sharp 35 percent CAGR, aligning the industry with worldwide electrification trends.

The industry must address key challenges, including reliance on critical components like rare earth elements (mostly sourced from China), capability gaps in advanced technologies, and compliance with new policy shifts like carbon taxes in developed markets.

The analysis proposes two core strategies to lock in long-term value:

1. The IGNITE Approach: This focuses on securing a ‘last person standing’ advantage in ICE global play by upgrading supply chains, future-proofing the industry with new technologies, investing in capabilities like global sales expertise, and creating a future-ready workforce.
2. The GAIN Approach: This calls for a collaborative effort between Government, Associations, Institutional finance, and a Network effort of MSMEs to address systemic issues and secure access to critical resources and innovation.

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Automotive tier 1 supplier Uno Minda has announced its financial results for Q1 FY2027, achieving INR 55.57 billion in consolidated revenue, up 26 percent YoY. Last year, the company attained normalised revenue of INR 44.20 billion (i.e. excluding prior period income of INR 690 million) in Q1FY2026.

The EBITDA came at INR 5.72 billion, net profit of INR 2.96 billion, up 24 percent YoY.

This company witnessed growth across its core product offerings, including switches, lighting, alloy wheels, seating, as well as its new-age EV systems and alternate fuel divisions.

Ravi Mehra, Managing Director, Uno Minda, said, “Q1 FY27 reinforces Uno Minda’s strategic trajectory as we continue to outperform the broader automotive market. The ongoing shift toward vehicle premiumisation, connected mobility, and electrification is fundamentally elevating per-vehicle content across segments. By aligning our R&D roadmap with these structural industry shifts and accelerating execution across our new-age platforms, we are not just participating in market growth—we are driving the technological evolution of the vehicle cabin. Backed by disciplined capital deployment and expanding capacity, we are exceptionally well-positioned to lead the next phase of mobility innovation”

Sunil Bohra, CFO, Uno Minda, added, “Q1 FY27 marks a historic milestone for Uno Minda, as we delivered our highest-ever quarterly revenues with 26% YoY growth and a 24% increase in PAT. While we navigated a challenging commodity pricing environment during the quarter, underlying demand across the automotive sector remains strong. Our resilient performance reflects the strength of our technology leadership, product diversification, and focus on operational efficiencies. Driven by multiple growth initiatives, strategic investments, and increasing momentum in our new-age businesses, we remain confident of delivering sustainable, profitable growth while creating long-term value for our shareholders and other stakeholders.”

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Automotive supplier BorgWarner has secured extensions for multiple high-voltage inverter programs with a European original equipment manufacturer (OEM). The contract covers inverter designs for plug-in hybrid and 800V battery-electric vehicle platforms, with the start of production planned for 2029.

Under the agreement, BorgWarner will supply updated high-voltage inverters for plug-in hybrid vehicles incorporating its Application-Specific Integrated Circuit (ASIC) technology, configured to interface with the OEM's vehicle operating system.

For 800V battery-electric applications, the company will supply traction inverters utilising its Viper silicon carbide (SiC) power switches paired with a dual-sided-cooled power module.

Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said, “Extending several high-volume programs at the same time confirms BorgWarner's leading position in power electronics and the strength of our technology, in-house expertise and customer focus. Evolving our inverters generation by generation together with our customers, for both hybrid and fully electric applications, is how we build trusted, long-term partnerships with the world's leading OEMs.”

The inverter families are developed to support power management across both hybrid and electric drive architectures.

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Automotive cable and shifter manufacturer Remsons Industries has appointed Rahul Prabhakar Desai as its new Chief Executive Officer, effective 3 August 2026. He succeeds Amit Srivastava, whose resignation takes effect at the close of business hours on 4 September 2026.

Desai comes with three decades of experience in automotive manufacturing, including 17 years in executive roles. Before joining Remsons Industries, he was Executive Director and Chief Executive Officer at Pinnacle Industries, overseeing five manufacturing facilities.

He previously served as Chief Executive Officer at CIE India, managing multiple business divisions and ten manufacturing plants, and held leadership positions at GKN Sinter Metals and Inteva Products.

Throughout his career, Desai has managed greenfield plant setups, manufacturing optimisation projects and supply partnerships with original equipment manufacturers. He holds a bachelor's degree in mechanical engineering, a Six Sigma Black Belt certification and has completed executive management training at the Indian Institute of Management Ahmedabad alongside technical programs in Japan and the United States.

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Pune-headquartered tier 1 supplier Varroc has appointed Eric Hamon as Chief Technical Officer, effective 3 August 2026. He joins the company with 25 years of engineering experience across the automotive sector.

Hamon comes with experience in electrification, electrical and electronic architectures, software-defined vehicle platforms, embedded software, functional safety and cybersecurity operations.

Before joining Varroc, Hamon was Director – E Axle & System Platforms at Valeo E, where he managed product strategy for electric axle platforms. His career includes work in system engineering, embedded hardware and software development, electric powertrains and regional engineering operations.

In his new role, he will report to Arjun Jain, Whole Time Director & CEO - Business I at Varroc. He will lead the company's global technology and engineering organisation, taking charge of technology strategy, product portfolio optimisation in electrification & connected systems and engineering process development.

Arjun Jain said, "We are delighted to welcome Eric Hamon to Varroc's leadership team. Eric brings a rare combination of deep technical expertise, global engineering leadership and a proven ability to translate technology into vehicle requirements. As our industry accelerates towards electrification, connectivity and sustainability, his leadership will play a pivotal role our accelerating growth."

Eric Hamon said, "I am excited to join Varroc at such a transformative time for the global automotive industry. The pace of innovation in electrification, software and connected mobility presents tremendous opportunities to redefine the future of mobility. Varroc has built a strong foundation of engineering excellence, customer trust and global manufacturing capability, and I look forward to working with talented teams across the world to accelerate innovation, deepen customer collaboration and develop technologies that enable safe, smart and sustainable mobility."

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