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Shradha Suri Marwah, President, ACMA“>
New Delhi:
The automotive sector continues its momentum of growth in the festive season with two wheelers demonstrating a positive outlook. However, passenger vehicles (PVs) and commercial vehicles (CVs) have shown moderate growth.Exports of materials and vehicles have faced certain challenges due to increased delivery times and freight costs, said Shradha Suri Marwah, President, ACMA during the ETAuto EV Conclave 2024.
Marwah emphasised how the auto component sector has grown 10% and has reached turnover of over USD 74 billion in FY24. Domestic supply to the OEMs has increased by 9%, while exports stood at USD 21.2 billion. Highlighting the H1 FY25 aspect, Marwah said the auto industry demonstrated a robust performance with 11% growth.
Supply chain dynamics for EVs
The Indian auto components industry is increasing its supply to EV OEMs which has grown from 3% of the industry’s total production in FY 23 to 6% in FY24. “A testament to the sector’s adaptability and forward-thinking approach,” said Marwah. The Indian automotive industry is transitioning to electric vehicles with a strong electric two and three wheeler demand.
This requires a resilient supply chain for EVs to address the demand for batteries, charging infrastructure, and skilled workforce.This requires collaborative efforts, along with strategic foresight, mentioned Marwah. To build a holistic ecosystem, a change in workforce skill set is required to adapt EV technology. This can be achieved through training programmes which are provided by ASDC. Technologies such as IoT, AI, and data analytics can help optimise supply chains and improve efficiency.
Localisation is the key
Localisation is the key to reducing the dependence on international suppliers and enhancing self-reliance, Marwah added. For which ACMA is trying to connect OEMs with suppliers through technology events and exhibitions that play a crucial role in supporting the transition.
Adding to this, Marwah stated recycling of lithium and cobalt is crucial in this evolving automotive industry. This battery recycling ecosystem will aid in minimising imports and environmental impacts. Thus, she highlighted a strong emphasis on open communication between manufacturers and suppliers.
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Exports of materials and vehicles have faced certain challenges due to increased delivery times and freight costs, said Shradha Suri Marwah, President, ACMA during the ETAuto EV Conclave 2024.
Shradha Suri Marwah, President, ACMA“>
New Delhi:
The automotive sector continues its momentum of growth in the festive season with two wheelers demonstrating a positive outlook. However, passenger vehicles (PVs) and commercial vehicles (CVs) have shown moderate growth.Exports of materials and vehicles have faced certain challenges due to increased delivery times and freight costs, said Shradha Suri Marwah, President, ACMA during the ETAuto EV Conclave 2024.
Marwah emphasised how the auto component sector has grown 10% and has reached turnover of over USD 74 billion in FY24. Domestic supply to the OEMs has increased by 9%, while exports stood at USD 21.2 billion. Highlighting the H1 FY25 aspect, Marwah said the auto industry demonstrated a robust performance with 11% growth.Supply chain dynamics for EVs
The Indian auto components industry is increasing its supply to EV OEMs which has grown from 3% of the industry’s total production in FY 23 to 6% in FY24. “A testament to the sector’s adaptability and forward-thinking approach,” said Marwah. The Indian automotive industry is transitioning to electric vehicles with a strong electric two and three wheeler demand.This requires a resilient supply chain for EVs to address the demand for batteries, charging infrastructure, and skilled workforce.This requires collaborative efforts, along with strategic foresight, mentioned Marwah. To build a holistic ecosystem, a change in workforce skill set is required to adapt EV technology. This can be achieved through training programmes which are provided by ASDC. Technologies such as IoT, AI, and data analytics can help optimise supply chains and improve efficiency.Localisation is the key
Localisation is the key to reducing the dependence on international suppliers and enhancing self-reliance, Marwah added. For which ACMA is trying to connect OEMs with suppliers through technology events and exhibitions that play a crucial role in supporting the transition.
Adding to this, Marwah stated recycling of lithium and cobalt is crucial in this evolving automotive industry. This battery recycling ecosystem will aid in minimising imports and environmental impacts. Thus, she highlighted a strong emphasis on open communication between manufacturers and suppliers.
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