Delhi NCR-based component maker Sterling Tools, through its subsidiary, Sterling Gtake E-Mobility (SGEM), is foraying into the EV On-board Chargers and DC/DC converter for electric vehicles space. 

The company has inked a technology license and supply agreements with Landworld Technology Co, China to locally manufacture on-board chargers, DC/DC convertors and Multi-Function Units (incorporating On-Board Chargers, DC/DC converters as well as Power Distribution Units (PDUs)).

Sterling Tools estimates that the market size to reach around INR 30 billion by FY2030, while the revenue from the partnership to achieve INR 4.5 billion respectively.

The company will manufacture the crucial products required in the passenger and commercial vehicle segments at its EV campus in Faridabad.

Anil Aggarwal, Chairman, Sterling Tools, said, “This partnership creates greater depth in the EV ecosystem in India. We are expanding beyond our initial Motor Control Unit and powertrain platforms to meet our customer’s growing demand for advanced technology in the EV sector. EV sub-systems are being increasingly consolidated into multifunction units and Sterling hopes to offer our customers greater choices for stand-alone and multifunction units to cover multiple (vehicle) functions. The Sterling Group will continue to extend excellent technical and application support to its customers to help drive greater adoption of EVs in India.”

Lin Chen, Vice General Manager, Landworld Technology Co, said, “India’s EV market offer’s immense potential for growth and innovation. Through our partnership with Sterling Gtake, we are bringing our proven expertise in On-Board Chargers and DC/DC converters to Indian customers across several EV vehicle categories. Together, we aim to create high-quality solutions that cater to India’s EV market while contributing to the country’s self-reliance and sustainability goals."

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Tier 1 automotive supplier Lumax Auto Technologies, part of the DK Jain Group, has further strengthened its management team by onboarding Ambarish Kumar Gupta as the new Vice-President – Operations.

Gupta comes with over two decades of experience in the automotive industry, with senior roles across financial operations.

The industry executive has worked with the likes of Forvia Faurecia, Marelli, Brose, Magna Steyr, Infosys, L&T Technology Services, BlueBinaries Engineering & Solutions and PGUB Management Consulting, among others.

In his new role, he will be responsible for advancing futuristic automotive electronics, strengthening operations and making the company future-ready.

Gupta will also support Lumax Auto Technologies’ innovation, technology and operational excellence roadmap.

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The Indian automotive component sector is projected to expand by approximately 8-9 percent in FY2027, according to a report by CareEdge Ratings. The market size is forecasted to reach INR 10,681 billion in FY2027, rising from INR 9,835 billion in FY2026.

The anticipated expansion is supported by domestic vehicle manufacturing, higher component content per vehicle, aftermarket replacement demand and ongoing integration with international supply chains.

The report states that total vehicle production in India increased from 23 million units in FY2022 to 34.7 million units in FY2026. Original equipment manufacturers (OEMs) generated 67 percent of sector revenues in FY2026, while exports and the aftermarket accounted for 22 percent and 11 percent, respectively.

On the other hand, auto component exports grew from INR 987 billion in FY2021 to INR 2,122 billion in FY2026, with expectations to reach INR 2,300 billion in FY2027. Component imports increased from INR 1,024 billion in FY2021 to INR 2,243 billion in FY2026, and are projected to rise to INR 2,431 billion in FY2027 due to continued reliance on semiconductors, battery cells and electronic systems.

Engine parts represented the largest product category at 24 percent of the component mix in FY2026, followed by suspension and braking at 17 percent and drive transmission and steering at 14 percent. However, product value is gradually shifting toward electronics, software systems and electric vehicle architectures. Total electric vehicle registrations rose from 170,000 in FY2020 to 2.45 million in FY2026, increasing electric vehicle penetration from 0.71 percent to 8.28 percent.

Ranjan Sharma, Senior Director at CareEdge Ratings, said, "India's auto component industry has emerged as an increasingly important part of the global automotive supply chain, supported by its manufacturing competitiveness, engineering capabilities, and expanding domestic market. With the auto ancillary industry market size expected to surpass Rs 10.6 trillion in FY27, the sector is well positioned to capture a larger share of global sourcing opportunities. Continued progress in localisation of critical components and development of advanced manufacturing capabilities will be key to enhancing value addition and strengthening India's long-term position in the global automotive ecosystem."

The aggregate revenue of the top 50 listed auto ancillary companies in India is expected to increase from INR 4,325 billion in FY2026 to INR 4,714 billion in FY2027. Sector capital expenditure is projected to reach INR 282 billion in FY2027 to support automation, capacity expansion and technology upgrades. Operating margins are expected to remain stable, managed through contractual cost pass-through mechanisms with vehicle manufacturers.

Government policy initiatives continue to influence capacity creation. The PLI-Auto Scheme recorded cumulative investments of INR 443.26 billion against an incentive outlay of INR 259.38 billion by FY2026. The PLI-ACC scheme for battery cell manufacturing attracted INR 51.80 billion in investments as of 31 May 2026, against an outlay of INR 181 billion. Additional demand support stems from the PM E-DRIVE scheme and the PM e-Bus Sewa scheme.

Geopolitical issues, freight rate fluctuations, and trade policies remain factors for export performance. The US represents the largest export destination, taking approximately 26 percent of Indian auto component exports, valued at INR 552 billion in FY2026.

Arti Roy, Associate Director at CareEdge Ratings, added, "CareEdge Ratings expects the Indian auto ancillary industry to grow by around 8-9% in FY27, supported by healthy OEM demand across major segments, increasing component content per vehicle, resilient replacement demand, higher localisation, and expanding global sourcing opportunities. The industry's ongoing transition towards electronics-intensive and cleaner mobility platforms is creating new opportunities across EV-linked components, advanced electronics, powertrain technologies, and other high-value automotive systems. Profitability is expected to remain broadly stable, although returns from ongoing investments in new capacities and advanced technologies are likely to materialise gradually. Companies with diversified customer relationships and geographical reach, wider product portfolios, strong engineering capabilities, prudent capital allocation, and the ability to adapt to the evolving component value pool are expected to remain better positioned."

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BorgWarner has broadened its variable cam timing portfolio through two newly secured contracts in Europe and China, reinforcing its position in the hybrid and internal combustion engine sectors. One agreement extends production and raises output volumes for a premium European automaker’s V6 platform, while the other represents a competitive replacement for a Chinese original equipment manufacturer’s 1.5-litre turbocharged gasoline unit.

The technical foundation for both awards is the centre-bolt Cam Torque Actuated system, which departs from conventional oil-pressure-based designs. By streamlining internal lubrication channels, the architecture achieves quicker cam phase adjustment, more dependable locking mechanism engagement and lower lubricant consumption, all of which contribute to measurable gains in thermal efficiency across both electrified and conventional powertrains.

Production for the European V6 family, which serves premium and sports vehicle segments with power ratings spanning 260 to 375 kilowatts, is already active. The enhanced supply agreement, including the enlarged volume commitment and an extended production horizon, will become effective in January 2027, covering both hybrid and gasoline-only iterations of the engine.

The Chinese programme, slated to enter production in September 2026, involves a high-volume 1.5-liter turbocharged engine line that underpins numerous sport-utility and sedan models destined for the domestic market. This victory over the prior supplier was attributed to the system’s fuel-saving characteristics, combined with localised manufacturing operations and a more competitive overall cost structure.

Henk Vanthournout, Vice President of BorgWarner Inc. and President and General Manager, Drivetrain and Morse Systems, said, “These awards underline the long-term competitiveness of our VCT portfolio across both hybrid and combustion powertrains. They reflect the quality, reliability and cost competitiveness our customers continue to value in our VCT and timing drive solutions.”

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Bosch Ltd has reported 36.8 percent net profit decline to INR 7.049 billion in Q1FY27. It has attributed the performance to high base effect as it has come despite a revenue growth on the back of strong uptake from the automotive and power solutions category.

In its regulatory filing, Bosch has reported, the consolidated net profit in the corresponding quarter of the last fiscal was INR 11.153 billion. In Q1FY26, the company had recorded a total gain of Rs 5.56 billion on the sale of its video solutions, access and intrusion and communication systems business.

Its consolidated revenue from operations in Q1FY27 stood at INR 58.419 billion as against INR 47.886 billion in the same period last fiscal. Total expenses in the Q1FY27 period were higher at INR 51.258 billion as compared to INR 42.388 billion in the corresponding period in the last financial year.

Stating that the business performance of the company in the first quarter was driven by sustained demand across segments like passenger cars and commercial vehicles along with the increased sales in key product categories, Guruprasad Mudlapur, President, Bosch Group in India, and Managing Director, Bosch Limited, mentioned that the automotive sector in India is undergoing a structural shift towards safer, cleaner and personalised vehicles. Bosch, he added, is well-positioned to support this change by delivering high-value, future-ready solutions.
The product sales kitty of the company in Q1FY27 for the automotive segment saw an uptake of about 25.7 percent year-on-year. The power solutions business grew by 29 percent, also on the back of demand from the auto sector.

Image for representative purpose only. 

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