According to a recent survey by the Automotive Component Manufacturers Association of India (ACMA), 60 per cent of its 800 members say that they are ready to supply to EVs, while the rest say that they will be prepared to do so later this year, or latest by 2023.
Says ACMA president, Sunjay Kapur, "The investment cycle by auto component companies to prepare themselves for EVs has already begun, and is on track. From the supply side, the EV revolution will give component makers a brand new market segment to operate in. They can supply different kinds of components like telematics, batteries, and cater to the requirements of a new ecosystem which is being created."
He points out that despite the difference in the drive train and the fact that EVS are powered by a battery, many other components like seats, steering systems, brakes, mirrors (might have more electronics) are the same in EVS as they are in internal combustion engine (ICE) vehicles.
This story is from the May 27, 2022 edition of Business Standard.
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This story is from the May 27, 2022 edition of Business Standard.
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