In line with the government's push to make India a key automotive manufacturing hub, the automotive components industry in India is confident that it will export more in 2024. 

Focusing on providing more and more opportunities to Indian auto components manufacturers in terms of exports, the Automotive Components Manufacturers’ Association (ACMA) has been helping them to participate in major auto shows the world over. It is also conducting B2B trade fairs such as iAutoConnect which took place in November 2023 in New Delhi, to ensure good international exposure.  

Clocking a 12.6 percent Y-o-Y growth in the first two quarters (H1) of FY2024, the Indian auto components industry, informed an ACMA source, is riding on a robust domestic demand as well as concentrating on exports to ensure stronger and sustainable growth. 

Reporting sales worth USD 36.1 billion in H1 FY2024 as against sales worth USD 33.9 billion during the same period last financial year, the source mentioned that auto component manufacturers are paying attention to significant value addition by adopting new technologies and bettering their agility to respond to the market requirements in the international as well as the home markets. 

Speaking at a press event in Delhi recently, ACMA President Shradha Suri Marwah averred that the auto component industry is mulling over investing around USD 7 billion over the next five years on capacity expansion and technology upgradation mainly because of the robust demand within the indigenous automobile industry, 

"The components industry continues to make investments for purposes of higher value-addition, technology upgradation, and localisation to stay relevant to both domestic and international customers. The industry is aiming to invest USD 6.5-7 billion in capex over the next five years as compared to USD 3.5-4 billion spent in the last five years. With good performance in sales across segments of the vehicle industry in the festive season, I am optimistic that the current fiscal year will witness another good performance from the auto components sector," Marwah noted.

Speaking on the growth, she iterated, “As vehicles sales started reaching pre-pandemic levels and supply-chain issues witnessed during the pandemic such as availability of semi-conductors, high input raw-material costs and non-availability of containers were mitigated, the auto components sector witnessed a steady growth in both domestic and the international markets in the first-half of FY2023-24.”

The findings of the apex body indicated that the auto component sales to OEMs in the domestic market stood at USD 30.8 billion registering a growth by 13.9 percent compared to the first half of the previous year. Consumption of increased value-added components and the shift in market preference towards larger and more powerful vehicles continued to contribute to the increased turnover of the auto-components sector.

Moreover, exports of auto components grew by 2.7 percent to USD 10.4 billion in H1 FY2024 from USD 10.1 billion in H1 FY2023. North America and Europe accounted for 33 percent of exports witnessing an increase of 2 and 12 percent respectively, while Asia accounted for 24 percent, witnessed a decline of 4 percent.

The imports grew by 3.6 percent from USD 10.2 billion in H1 FY202-23 to USD 10.6 billion in H1 FY2023-24. Asia accounted for 63 percent of imports followed by Europe and North America, with 27 percent and 9 percent respectively. Imports from Asia grew by 2 percent, from Europe by 8 percent and from North America by 2.5 percent.

The aftermarket also registered a modest growth in H1 FY2024 witnessing sales go up by 7.5 per cent to USD 5.5 billion from USD 5.4 billion in H1 FY2023.

Commenting on the performance of the auto component industry in India, ACMA Director General, Vinnie Mehta, said, “With vehicle sales and exports displaying steady performance, the auto component industry demonstrated a growth of 12.6 percent scaling a turnover of Rs. USD 36.1 billion in the first half of FY 2023-24. 

Auto Component supplies to all segments of the industry i.e., to OEMs, exports and also the aftermarket remained steadfast. Exports grew by 2.7 percent to USD 10.4 billion while imports grew by 3.6 percent to USD 10.6 billion. The aftermarket, estimated also witnessed a growth of 7.5 percent. Component sales to OEMs in the domestic market grew by 13.9 percent to Rs.2.54 lakh crore”.

Elaborating on the mood of the industry and outlook for the near to mid-term future, Shradha mentioned, “Going forward, considering the festive season has gone well with significant sales across most segments of the vehicle industry, I am optimistic that the current fiscal year will witness another good performance from the auto components sector. The components industry continues to make investments for purposes of higher value-addition, technology upgradation, and localisation to stay relevant to both domestic and international customers.”

*Image for representative purpose only.

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Bengaluru-headquartered electric vehicle major Ather Energy has announced that its fast-charging network ‘Ather Grid’ has surpassed 400 charging points across Tamil Nadu. This expansion aims to alleviate range anxiety for EV owners and support the growing adoption of electric vehicles in the state.

With charging stations now in 38 cities, including tourist destinations like Coonoor and Rameswaram, the network connects key travel routes such as Coimbatore to Bengaluru and Chennai to Pondicherry. The company also noted that a total of 480 fast charging points are available in the state, which includes over 50 LECCS (Light Electric Combined Charging System) chargers. Developed by Ather, the LECCS standard allows different brands of light EVs to use the same charging network.

Ravneet Singh Phokela, Chief Business Officer, Ather Energy, said, “Tamil Nadu has been one of our earliest markets and ever since we entered the state in 2019, we have been investing in building a reliable charging network there. Charging has often been seen as one of the key barriers, and it’s something we’ve focused on solving from day one. Crossing 400 fast chargers in Tamil Nadu is a reflection of that commitment. It’s about giving riders the confidence that a charger is never too far away. As our retail footprint grows, the charging network will continue to scale alongside it, making EV ownership truly seamless.”

The company has partnered with local businesses like Coffee Day Global and Ganga Sweets to deploy these charging points. This expansion is part of Ather's broader national effort, which has seen the establishment of over 3,300 fast-charging points across India. The chargers can provide up to 15 kilometres of range in just 10 minutes, making it more convenient for riders on the go.

In addition to its charging infrastructure, Ather maintains a strong presence in the state with 44 experience centres and 42 service centres in 35 cities, offering comprehensive sales and after-sales support.

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Bengaluru-headquartered premium electric two-wheeler company Ultraviolette Automotive has announced a strategic investment from TDK Ventures, the venture capital arm of Japan’s TDK Corporation, along with participation from backing from existing investors Zoho Corporation and Lingotto (previously Exor Capital), among others.

With this TDK Ventures joins the likes of Qualcomm Ventures, Zoho Corporation, Speciale Invest, Lingotto (Formerly Exor Capital), and TVS Motor Company as a strategic investor in the EV company. It also counts the likes of Sriharsha Majety (Co-founder & CEO, Swiggy), Ankit Nagori (Co-founder, Cure Foods; former Chief Business Officer, Flipkart), Aprameya Radhakrishna (Co-founder, TaxiForSure), and Dulquer Salmaan (renowned actor and automotive enthusiast) among its early backers.

At present, Ultraviolette sells the F77 electric motorcycle and is gearing up to expand its product offerings along with manufacturing, research and distribution network globally.

Narayan Subramaniam, CEO & Co-Founder, Ultraviolette, said, “Mobility is undergoing a radical transformation, and at Ultraviolette, we are leading that change through cutting-edge innovation. Our partnership with TDK Ventures fast forwards our efforts, from advanced battery platforms to intelligent vehicle systems. This collaboration not only accelerates our vision of future ready mobility but also reinforces our commitment to delivering electric vehicles that are aspirational and globally relevant.”

Niraj Rajmohan, CTO and Co-founder of Ultraviolette, said, “Through this partnership with TDK Ventures, Ultraviolette will continue to innovate in deep-tech to shape the future of mobility. Together, we will continue to push the boundaries in building safer, smarter, and a more efficient electric mobility eco-system.”

Ravi Jain, Investment Director, TDK Ventures, said, “We look forward to bringing our TDK Goodness to Ultraviolette and their ambitious plan to design the next generation of energy efficient and performance EV 2W platforms. TDK Ventures is excited to support Ultraviolette in their relentless pursuit of growing their global reach."

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In a significant step toward creating a global ‘Internet of Things’ (IoT) ecosystem, Geely Holding Group’s aerospace subsidiary, Geespace, successfully launched 11 new satellites into orbit on 9 August 2025. The launch took place in Shandong Province, China, and marks the fourth successful orbital deployment for the company's Geely Future Mobility Constellation (GEESATCOM).

With this latest launch, Geespace now operates 41 satellites in low Earth orbit (LEO), bringing it closer to its goal of having 72 satellites in operation by end-2025. The company plans to accelerate deployments over the next two months to reach 64 operational satellites, which will establish comprehensive global satellite IoT coverage.

The GEESATCOM project is a key part of Geely's vision to build an integrated space and earth mobility ecosystem. The LEO satellite network is designed to provide highly reliable, wide-coverage communication services for various strategic industries, including:

• Connected vehicles and urban air mobility
• Emergency response and maritime operations
• Energy infrastructure

This network will support advanced driver assistance systems (ADAS) and connected vehicle platforms by providing crucial data for precision positioning and connectivity. Geespace has already established partnerships with telecom operators in over 20 countries and its proprietary satellite communication chips and high-precision positioning modules are now in mass production across Geely's vehicle portfolio.

To further demonstrate the technology, Geely is providing high-precision positioning and emergency satellite communications for official vehicles at the World Games 2025 Chengdu, showcasing the practical applications of its satellite infrastructure in real-world scenarios.

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Kia India, a leading passenger vehicle manufacturer in the country, has signed an MoU (Memorandum of Understanding) with ASDC (Automotive Skill Development Council) to promote automotive skill training in the country.

The partnership will promote a 30-day training model module combining classroom-based theoretical learning and practical on-the-job experience. The course includes 15 days of foundational training at ASDC-certified training centers covering core automotive concepts and dealership functions. In addition, it will also feature Kia-specific process to familiarise candidates with brand standards, systems and product knowledge. The curriculum will provide students with 15 days of experiential learning at authorised Kia dealerships under expert supervision.

Joonsu Cho, Chief Sales Officer, Kia India, said, “This collaboration with ASDC represents a pivotal step in Kia India’s commitment to shaping a future-ready ecosystem, one that is anchored in skilled human capital and elevated customer experience. By creating a robust talent pool through structured training and certification, we are not only empowering India’s youth with meaningful employment but also reinforcing our dealer network with professionals who embody Kia’s values of quality, care, and innovation. Ultimately, this initiative will translate into a more seamless, informed, and rewarding journey for every Kia customer across the country.”

The co-developed learning model aims to provide candidates with the technical know-how and workplace readiness to be effective from day one. Upon successful completion of the program, candidates will undergo an evaluation at the ASDC centre, get certificate jointly awarded by Kia India and ASDC, and eligible for the direct recruitment by Kia dealerships into Sales and Service roles.

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