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.

Comments (0)

ADD COMMENT

Link Copied!

European automaker Stellantis has announced a strategic initiative with Accenture to deploy artificial intelligence (AI)-enabled digital twin capabilities across its global manufacturing network using Nvidia technologies. The project focuses on creating virtual manufacturing environments powered by real-time data and physical AI.

The collaboration integrates Stellantis's automotive infrastructure, Accenture’s digital manufacturing engineering and Nvidia’s accelerated computing platforms and Omniverse libraries.

The system uses virtual factory replicas to validate manufacturing processes prior to physical installation, track metrics for quality control and conduct predictive monitoring.

Initial testing and deployment of the digital twin infrastructure are scheduled to begin with pilot programmes in North America in 2026. The long-term objective is to evaluate scalability across the carmaker's international plant footprint to establish a predictive manufacturing model.

Francesco Ciancia, Head of Manufacturing, Stellantis, said, “We are laying the foundation for the next generation of manufacturing at Stellantis. By combining digital twins, AI and advanced simulation, we are rethinking how we design, operate and continuously improve our production systems. This initiative is designed to work hand in hand with our teams, enhancing their ability to anticipate issues, enabling faster decisions and continuous improvement. Together with Accenture and NVIDIA, we are exploring new ways to drive more scalable and intelligent operations.”

Tracey Countryman, Supply Chain and Engineering Global Lead, Accenture, added, “The opportunity in manufacturing today is to scale AI across complex industrial operations in ways that deliver measurable business value. By partnering with Accenture and harnessing Nvidia’s compute and simulation technologies, Stellantis is positioned to accelerate manufacturing reinvention and lead the industry into a new era of intelligent, high-performance operations.”

The computational framework is built to enable closed-loop optimisation, a process where physical assembly lines and virtual systems continuously exchange data to improve performance. The architecture supports automated throughput adjustment, maintenance scheduling and software-defined factory operations.

Comments (0)

ADD COMMENT

Link Copied!

Epsilon Advanced Materials (EAMPL) has developed a hard carbon anode material designed for sodium-ion batteries used in grid-scale Energy Storage Systems (ESS). Developed through internal research and development, the graphite-free material provides an alternative for cell manufacturers as sodium-ion chemistry gains adoption due to the abundance of sodium and its lower environmental footprint compared to lithium extraction.

The material utilises coconut shell waste as its primary carbon precursor. Through pyrolysis and high-temperature carbonisation, this agricultural byproduct is converted into a disordered carbon structure with the interlayer spacing and nanopore architecture required for sodium-ion storage.

This bio-based manufacturing process eliminates dependence on graphite and reduces carbon dioxide emissions by up to 50 percent compared to standard graphite anode production due to lower processing temperatures.

The microarchitecture of the hard carbon anode provides reversibility, cycle life, and charge-discharge capabilities required for grid applications undergoing repeated charge cycles.

The product launch follows commitments to sodium-ion cell production by global manufacturers, including CATL, alongside expanding research by cell manufacturers across Asia and India seeking components for energy storage systems.

Vikram Handa, Managing Director, Epsilon Group, said, “The clean energy transition needs materials that are affordable, available and easy to scale, faster. Sodium-Ion is the right chemistry for energy storage and Hard Carbon is the right anode for it. The feedstock is something India has in abundance, the process is cleaner than anything that came before it, and the performance is where it needs to be for real-world grid applications. We are building for what energy storage will look like ten years from now.”

The introduction of the hard carbon anode is part of Epsilon Group's expansion into battery materials, which also includes silicon-graphite anodes and Generation III Lithium Iron Phosphate (LFP) cathode active materials for lithium-ion applications. The expansion aims to establish manufacturing and export capabilities for battery components within India to support energy storage and electric vehicle sectors.

Comments (0)

ADD COMMENT

Link Copied!

French automotive supplier Valeo has been nominated by a major Indian automotive manufacturer to supply its Valeo Smart Safety 360 (VSS360) system for commercial vehicles.

The advanced driver assistance system (ADAS) is designed specifically for the Indian market and will be produced at Valeo's manufacturing facility in Sanand, Gujarat.

The VSS360 is a ‘one-box’ ADAS solution that integrates radar fusion directly into a smart front camera. This design allows vehicle manufacturers to remove individual Electronic Control Units (ECUs), reducing costs and simplifying integration into existing vehicle architectures.

A significant technical feature of the system is the Univolt Camera, which is compatible with both 12V and 24V electrical architectures, allowing it to be used in vehicles ranging from Light Commercial Vehicles (LCVs) to heavy-duty trucks.

The system utilises three radars and one camera to provide a suite of safety and comfort functions, including:

• Moving Off Information System: Protects pedestrians and cyclists during vehicle pull-away.
• Blind Spot Information System: Monitors side zones for vulnerable road users.
• Standard ADAS Functions: Includes Forward Collision Warning, Automatic Emergency Braking, and Lane Departure Warning.
• Driver Monitoring: Software that detects driver drowsiness and fatigue to mitigate accident risks.

The system has been tailored to meet upcoming General Safety Regulations in India and handles unpredictable traffic conditions common on Indian roads. It also supports over-the-air (OTA) updates to maintain software performance throughout the vehicle's lifecycle.

Marc Vrecko, CEO, Valeo Brain Division, said, "This award demonstrates how our high-end ADAS technology can perform in the world’s most demanding environments while drastically improving road safety. India is a cornerstone of our 'Elevate 2028' strategy and Valeo is committed to providing high-tech, scalable, and cost-optimised safety solutions that meet the specific requirement of Indian roads."

Jayakumar G, Group President & Managing Director, Valeo India, added, "This award marks an important milestone in expanding our ADAS portfolio in the commercial vehicle segment in India. By localising these advanced solutions, we aim to deliver highly competitive products tailored to our customers’ needs. Regulatory momentum is a key driver accelerating ADAS adoption and supporting our journey towards safer and smarter mobility in India."

Comments (0)

ADD COMMENT

Link Copied!

Hyundai Motor Group has expanded its Center of Excellence (Hyundai CoE) in India by forming a consortium with 7 universities to conduct research into battery and electrification technologies.

This initiative adds IIT Kanpur, IIT Hyderabad, VNIT Nagpur and Tezpur University to the existing partnership established in 2025 with IIT Madras, IIT Delhi and IIT Bombay.

The Group is managing 39 joint projects through these institutions, focusing on battery cell safety, energy density and diagnostic systems. Research is specifically directed toward battery designs and materials intended for the Indian environment.

Technical work also includes the development of an AI-powered Vehicle-to-Grid (V2G) platform and advancements in Battery Management Systems (BMS).

To facilitate technical exchange, the Group has introduced a Korea Visiting Programme for researchers and a series of global conferences and forums. These programmes are designed to connect government, industry, and academic leaders to discuss emerging electric vehicle (EV) technologies and share technical insights between India and Korea.

Chang Hwan Kim, Head of the Electrification Energy Solutions Tech Unit, Hyundai Motor Group, said, “By bringing together the distinguished professors and emerging researchers from these seven institutes, we can create powerful synergies that will yield immense value for both Hyundai and India's sustainable growth. I strongly believe that the Hyundai CoE will grow to become the premier expert network of the Indian academic community”.

The long-term objective of the project is to establish a research hub that provides solutions for the domestic automotive industry and supports the transition to electric mobility through local talent and institutional expertise.

Comments (0)

ADD COMMENT

Link Copied!