After terming India’s import duty barriers high for some time, US President Donald Trump has expressed that 2 April 2025 will be remembered as the day the American industry was reborn as his government announced a broad new tariff policy that imposes at least a 10 percent duty on nearly all imports from certain countries. In the case of India, the policy speaks of 26 percent ‘discounted' reciprocal tariffs. The tariff on China, on the other hand, is 34 percent. 

Aimed at protecting American farmers and ranchers, according to Trump, the broad-based tariff policy is also being termed as ‘national emergency’ driven in view of the ongoing trade deficits, which hit a record USD 1.2 trillion in 2024.

The German auto industry has reacted to the US policy by stating that it 'will only create losers'. While the Asian stock markets have shrunk in response to the announcement, the Indian Ministry of Commerce is analysing the impact of the 26 percent ‘discounted’ tariff announcement. 
Mentioning in its statement that it understands the intent of the US administration to boost domestic manufacturing and address trade imbalances, the Indian auto components apex body ACMA (Automotive Component Manufacturers Association of India) has said that autos and auto parts as well as steel and aluminium articles are already subject to Section 232 tariffs at 25 percent announced earlier by the US President’s order on 26 March 2025. A detailed list of auto components that will be subject to 25 percent import tariff is awaited, it mentioned.

Shraddha Suri Marwah, President, ACMA and CMD, Subros Ltd, averred, “ACMA remains hopeful that the ongoing bilateral negotiations between the Indian and U.S. governments will lead to a balanced resolution that benefits both economies. We believe that the strong trade relationship between India and the United States, especially in the auto components sector, will encourage continued dialogue to mitigate the impacts of these measures. ACMA is committed to engaging with all stakeholders to ensure the long-term interests of the Indian auto component industry.”

Saurabh Agarwal, Partner and Automotive Tax Leader, EY India, observed, "With US automotive tariffs rising, India's electric vehicle sector has a prime opportunity to capture a larger share of the US market, especially in the budget car segment.” He drew attention to the fact that China's 2023 auto and component exports to the US stood at US$17.99 billion whereas India's were only US$2.1 billion in 2024, highlighting the potential for growth. “To accelerate this, the government should enhance the PLI scheme by including more auto components, opening it to new players, and extending it by two years,” he added. 

Mrunmayee Jogalekar, Auto and FMCG Research Analyst, Asit C Mehta Investment Interrmediates Ltd, expressed, “Certain sectors such as auto and auto ancillary, which are already subject to a separate 25 percent tariff announced in March are exempt to the levy of reciprocal tariffs. This means no additional tariffs will be imposed on this sector.”
Stating that other exempted segments include copper, pharmaceuticals, semiconductors, critical minerals and energy products, she informed,

“Since import duties apply to all trading partners, the extent of impact will vary across sectors and countries based on competitive advantages.” “For the Indian auto component industry, which derives around 30 percent of its revenue from exports, with 30 percent of that coming from the US, this could result in a potential hit on sales or profit margins,” she added. 

In FY2024, ACMA reported that India exported USS$ 6.79 billion worth of auto components to the US. It imported only USS 1.4 billion, resulting in a substantial trade surplus in India's favour. 

Against the backdrop of the broader tariff policy that speaks of a 26 percent duty of Indian exports to US, the discussion between Indian and the US regarding the bilateral trade agreement will assume importance as well as urgency. For US automotive companies to find their way to the Indian market despite their near cult status – the likes of Harley Davidson and Tesla – will only mean facing a competition that is stiffer than expected and a customer mindset that is far different from how it is in the US. 

Srikumar Krishnamurthy, Senior Vice-President & Co-Group Head, Corporate Ratings, ICRA, said, "The US Government has imposed a 25 percent tariff on passenger vehicles (sedans, sport utility vehicles, crossover utility vehicles, minivans and cargo vans) and light trucks (collectively referred to as automobiles), which come into effect from 3 April  2025. As the PV exports from India to the USA represent less than 1 percent of the total PV exports, the tariff imposition of the tariff does not have any material impact on the Automotive OEMs. The scenario is however different for auto components. On 12 March 2025, a 25 percent tariff was imposed on all aluminium and steel components being imported into the US. Subsequent to this, on 26 March 2025, a 25 percent tariff was imposed on other key auto parts as well (including engines, transmissions, powertrain components and key electrical parts except those under USMCA), with processes to expand tariffs on additional parts, if necessary. The effective date is pending but is expected to be no later than 3 May 2025. Auto components have not featured in the latest set of additional tariff announcements that has been made on 2 April 2025. India’s auto components exports accounted for around 29 percent of industry revenues in FY2024. Of this, about 27 percent went to the US. While the situation is evolving, the recent tariff related development and the consequent inflationary pressures and slowdown in demand in the US could have a negative impact on revenue and earnings for component exporters (in the affected product categories) over the next few months. Nevertheless, with higher tariffs being levied on other competing nations, this could also create long-term opportunities for the exporters. Exporters dependent on the US are also trying to diversify their revenue base across other geographies (including Asia). Measures to improve value addition, diversification into non-auto segments and cost-optimisation strategies are also being worked upon to reduce the potential impact on margins.

Image for representative purpose only.

Comments (0)

ADD COMMENT

Link Copied!

Stoneridge, Inc. has announced the retirement of Jim Zizelman, President and Chief Executive Officer, effective 20 May 2026, who will be succeeded by Natalia Noblet, the current President of Stoneridge Electronics, as part of a planned transition. The Michigan-based company is a global supplier of safe and efficient electronic systems and technologies.

Zizelman will remain in his current role until 31 March 2026, before moving to a position as strategic advisor. Noblet will assume the role of President and CEO and join the Board of Directors on 1 April 2026. Zizelman will also stand for re-election to the board at the 2026 Annual Meeting of Shareholders.

Jim Zizelman joined Stoneridge in 2019 and became CEO in January 2023. His tenure included the transformation of product lines within the Control Devices segment – which the company recently sold – and an expansion of the technology portfolio focused on electrification and mobility.

Natalia Noblet joined the company in September 2024. During her time as president of Stoneridge Electronics, the segment secured contracts for the MirrorEye Camera Monitor System platform. Noblet previously spent 20 years at WABCO and ZF, where she held senior leadership roles in operations and procurement.

The transition follows the sale of the company's Control Devices segment. Stoneridge is now focused on its Electronics and Orlaco segments, prioritising technologies for vehicle safety and efficiency. Noblet will oversee the company's global operations, procurement and manufacturing footprint.

Bill Lasky, Chairman of Stoneridge’s Board of Directors, said, “Succession planning is a key priority for our Board and this transition reflects our commitment to leadership continuity and long-term value creation during an important period of transformation for the Company following the sale of our Control Devices segment. Over the past year and a half, Natalia has led the Electronics segment with focus and discipline, making this a natural and well-prepared transition. Jim and Natalia will continue to work closely together to ensure a seamless transfer of responsibilities and strategic focus.”

Jim Zizelman, Outgoing CEO, said, “On behalf of the Board, I thank Jim for his leadership and lasting contributions. Under his direction, Stoneridge enhanced its competitive position, advanced its technology roadmap and reinforced a performance-based culture within the Company. We are also pleased that Jim will continue to serve on our Board, where his deep technical knowledge, engineering background and understanding of our business will remain an asset as we move forward.”

Natalia Noblet, incoming CEO, stated, “As the incoming president and CEO, my priority is to deliver outstanding value to our customers and continue working with all of our partners to advance next-generation technologies for safer and more efficient transportation. I am grateful to Jim for his leadership and guidance during this transition and for the strong foundation he has built. I look forward to working closely with our Board, our executive team and our global teams to execute Stoneridge’s strategy, strengthen customer partnerships and drive sustainable, profitable growth.”

Comments (0)

ADD COMMENT

Link Copied!

Rolls-Royce Motor Cars has reached a key milestone in the expansion of its Goodwood facility, officially declaring the new structure fully weathertight. This significant development paves the way for the next stage of the project.

To commemorate the achievement, CEO Chris Brownridge, accompanied by the Board of Directors, personally hand-signed the final wooden louvre installed on the building’s exterior. This element is one of 1,745 such features adorning the 40,000-square-metre structure. Each louvre, measuring 100 by 58 centimetres, is crafted from red cedar. This material was chosen for its durability and its natural ability to age gracefully, developing a soft silver-grey patina that harmonises with the landscape, mirroring the aesthetic of the original adjacent building, which also features red cedar cladding on its front elevation. This ceremonial signing follows a tradition established last year when the directors marked the installation of the final steel beam at the structure's apex.

With the exterior now complete, attention turns to the interior fit-out, managed by Rolls-Royce's specialist in-house teams. A central focus is the development of a new Surface Finish Centre, which will serve as a dedicated paint shop. Concurrently, work will progress on installing advanced equipment and establishing specialised areas tailored for Bespoke and Coachbuild projects.

Representing an investment exceeding GBP 300 million, this expansion is the most substantial financial commitment to the Home of Rolls-Royce since its inception in 2003. It is set to enhance the company's substantial economic contribution, which currently adds over GBP 500 million annually to the UK economy.

Chris Brownridge, CEO, Rolls-Royce Motor Cars, said, “This moment marks the point at which our new extension building becomes fully weathertight, meaning our specialist Technologies can begin the complex, exacting process of fitting-out, in readiness for full operation in 2029. It’s a really pivotal point in the project – a project that upholds the standards and vision of our founder, Sir Henry Royce, and his famous injunction to strive for perfection in everything we do. The Directors and I have also been inspired by his practice of personally inspecting and signing off each new component, giving them his own ‘seal of approval’. Having previously signed off the final element of the structural steelwork, we wanted to do the same for the last of the wooden louvres that now clad its exterior. It’s enormously exciting to see the work progressing with such pace and precision. To have that sense of personal connection with such a significant project through these signing ceremonies is very special for all of us.”

Comments (0)

ADD COMMENT

Link Copied!

Embracing the deep-seated passion for cricket in Kolkata, the Kolkata Knight Riders, in partnership with VIDA, powered by Hero, launched the VIDA Knights Electrifying Box Cricket tournament. This innovative three-day event, held from 19 to 21 February, represented the franchise's most ambitious fan-centric initiative to date, designed to immerse supporters directly into the professional cricketing environment.

The tournament was structured to deliver a premium competitive experience, reflecting KKR's dedication to nurturing talent at the community level. Over three days, 32 teams, each consisting of 10 players, engaged in intense group stage and knockout matches. The competition culminated with Joy Game Changers being crowned the first-ever champions, while Knights Dé Xtreme secured the position of runners-up. The event transcended traditional play by incorporating digital culture, as a special team composed of popular Kolkata content creators like Neel Bhattacharya, DaSoham, Rahul Dey, Saiket Dey and Nirit Datta participated, effectively merging online fandom with on-ground sporting spirit.

The tournament distinguished itself through a creatively reimagined format. Strategic elements, such as VIDA-branded bonus targets, rewarded players for precision and boldness, mirroring the innovative features of the brand. The excitement was amplified by unique rules, including the VIDA Electric Over, a phase where every run counted double and batsmen could not be dismissed, guaranteeing dramatic shifts in momentum. Furthermore, the introduction of an Impact Player rule allowed teams to introduce a strategic asset at a crucial juncture, ensuring that every match remained fiercely competitive and unpredictable until its conclusion. This event successfully transformed the streets into a vibrant, electrifying extension of the Knight Riders' universe.

Binda Dey, Group Chief Marketing Officer, Knight Riders Sports, said, “Cricket has always lived in the heart of Kolkata. With VIDA Knights Electrifying Box Cricket, we took the game back to the fans – in a format that’s fast, accessible and powered by participation. Featuring 32 teams competing over three high-octane days, this tournament celebrated community, competitiveness and the joy of playing the game. We’re proud to partner with VIDA, a brand that shares our belief in creating experiences that fans don’t just watch but truly live.”

Kausalya Nandakumar, Chief Business Officer, Emerging Mobility Business Unit, Hero MotoCorp, said, “Our association with Kolkata Knight Riders is rooted in the confidence, resilience and aspiration that define a new India. VIDA is driven by the idea of making electric mobility exciting, accessible and relevant to everyday India – much like how KKR brings people together through cricket. With VIDA Knights Electrifying Box Cricket, we are bringing cricket’s unmatched passion and pulse to the streets, creating an exciting platform where supporters not only watch but also play and engage with us.”

Comments (0)

ADD COMMENT

Link Copied!

Just four months after a celebratory opening, the USD 5.8 billion BlueOval SK battery plant has hit a dramatic standstill. The facility, a joint venture between Ford Motor Company and South Korea’s SK On, is now sitting idle, leaving approximately 1,600 workers jobless and sparking a heated political debate over the future of American manufacturing stated news reports.

The 1,500-acre site was positioned in mid-2025 as the crown jewel of Kentucky's economic development, promised to be a ‘lifeline’ for the region's workforce. However, by December, the optimism vanished as Ford and SK On dissolved their partnership. Ford has confirmed the plant will remain idle for roughly 18 months as it undergoes a total strategic pivot.

Rather than powering the next generation of electric cars and trucks, the facility is being retooled to produce battery energy storage systems (BESS). These industrial-sized batteries are intended for power grids, data centres and commercial utilities.

Ford executives cited a ‘harsh operating reality’ for the pause, specifically:

• Slowing Demand: US EV sales projections for 2030 have been slashed from 45 percent of the market to as low as 9 percent.
• Regulatory Shifts: The administration has moved to rescind federal EV tax credits of up to USD 7,500, which many argue has cooled consumer interest.
• Supply Chain Pressures: New requirements for 100 percent US-made components for charging infrastructure have further complicated the transition.

The shutdown has become a lightning rod for political finger-pointing. Kentucky Governor Andy Beshear has blamed federal policy shifts – specifically the rollback of EV incentives – for draining the market momentum that justified the plant's massive scale.

Conversely, some industry critics and workers, like maintenance technician Joe Morgan, suggest the failure also lies in corporate strategy, arguing that Ford may have overestimated the public's immediate appetite for all-electric versions of flagship models like the F-150.

Image credit: Ford Motor Co

Source

Comments (0)

ADD COMMENT

Link Copied!