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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TIP Group has announced the appointment of Maurice Meijer to the newly established position of Chief Digital and Information Officer. This strategic role underscores the increasing significance of digital innovation, data management and technology in advancing the company’s long-term Strategy 2030 objectives. As TIP expands its footprint as a comprehensive transportation services provider across 17 European nations, the integration of digital solutions is viewed as essential to fostering operational efficiency, business growth and superior customer engagement.

In his capacity as CDIO, Meijer will lead the formulation and execution of the group’s digital and technological roadmap. His responsibilities encompass overseeing digital platforms, enhancing data analytics capabilities, managing IT infrastructure and strengthening cybersecurity protocols. The goal is to build resilient, scalable systems that align with TIP’s future ambitions.

Meijer joins with a robust background in board-level technology leadership. He previously served as Chief Technology and Information Officer at Nederlandse Loterij, where he spearheaded major digital transformations across various brands and platforms. Prior to that, he held key roles in digital strategy, product development and operations within both the technology sector and public institutions. Additionally, he is involved in supporting early-stage tech startups as an investor and founding partner.

His educational credentials include executive programmes at Nyenrode University and INSEAD, along with a degree in international business management. Meijer is recognised for blending strategic commercial insight with practical technological expertise.

Arjen Kraaij, President & CEO, TIP Group, said, “Digitalisation is central to TIP’s future success. With Maurice, we are bringing in a strong business and technology leader who will help us simplify complexity, strengthen our digital foundations and accelerate execution across the Group. His leadership will be instrumental as we translate our Strategy 2030 ambitions into practical, value-creating solutions for our customers and our teams.”

Meijer said, “I’m really looking forward to joining TIP at this important stage in its journey. With strong foundations, great people and clear ambitions under Strategy 2030, there’s a lot to build on. At the same time, we’re ready to take the next step by accelerating our shift towards more digital solutions. By embracing digital, data and AI in a focused and practical way, we’ll turn opportunities into solutions that truly improve the customer experience and make day-to-day work simpler, smarter and more effective for both our customers and our teams.”

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Swedish battery technology firm Holyvolt has finalised the acquisition of US-based materials specialist Wildcat Discovery Technologies in a deal valued at USD 73 million. The transaction consists of a combination of cash, equity and deferred milestone payments.

The merger integrates Wildcat’s High Throughput Platform (HTP) for material synthesis with Holyvolt’s water-based screen-printing production processes. The combined entity intends to operate as a technology development partner for the automotive, aerospace and energy storage sectors, offering licensing and pilot-scale production services.

Wildcat’s HTP system allows for the simultaneous screening of thousands of material combinations. This method is reported to be up to 10 times faster than standard research and development protocols, generating terabyte-scale datasets suitable for machine learning and AI applications.

Key capabilities of the integrated group include:

• Material Discovery: Use of combinatorial chemistry to identify optimal battery systems.
• Manufacturing Process: Holyvolt’s water-based processing serves as a replacement for conventional organic solvent-based slurries.
• Data-Driven Optimisation: Integration of structured datasets into AI models to accelerate development cycles.
• Sustainability: Focus on cobalt- and nickel-free materials to reduce capital requirements and supply chain dependencies.

The acquisition follows a EUR 20 million funding round for Holyvolt. The new group aims to address production costs and supply chain independence in Europe and North America by combining chemistry expertise with modular manufacturing technology.

Mathias Ingvarsson, Founder & CEO, Holyvolt, said, “The acquisition of Wildcat is a perfect complement to our intended strategy of developing new technologies for the battery industry. Holyvolt is focused on developing new processes to make batteries cleaner and more affordable, and Wildcat has been pursuing the same goals via materials development and better chemistry. Combined, we are building what we believe is the most compelling technology to deliver on these objectives.”

Mark Gresser, President and CEO, Wildcat Discovery Technologies, stated, “The Wildcat team is thrilled with this acquisition by Holyvolt. Mathias and team are very thoughtful with regard to their objectives in the battery industry, and recognise the value that Wildcat’s High Throughput Platform can deliver to our combined company and the industry at large. With Holyvolt’s vision and financial backing, Wildcat can finally unlock the true potential of high throughput combinatorial chemistry for battery materials.”

Prof. Peter Schultz, Founder, Wildcat Discovery Technologies, noted, “With Holyvolt, we can do for batteries what high throughput and AI have done for drug discovery.”

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Chinese automotive major BYD has revealed its second-generation Blade Battery alongside FLASH Charging technology, aimed at improving charging speeds and battery performance in low temperatures.

The system achieves a claimed charge from 10 percent to 70 percent state of charge (SOC) in five minutes, and reaches 97 percent in nine minutes. In temperatures of -30deg C, the charging time from 20 percent to 97 perrcent increases by three minutes compared to performance at room temperature.

The second-generation Blade Battery increases energy density by 5 percent over the previous version. To manage thermal loads during rapid charging, BYD integrated a ‘Lithium-Ion High-Speed Channel’ and a thermal management system.

Key technical specifications include:

• Range: The Denza Z9GT, equipped with this battery, achieves a range of 1,036 km.
• Thermal Management: Full-spectrum systems to regulate heat dissipation.
• Safety Standards: The battery has passed national safety tests regarding puncture and thermal runaway.
• Infrastructure: A world-leading single-connector output of 1500 kW.

BYD plans to build 20,000 FLASH Charging Stations in China by end-2026, with a global rollout scheduled to follow. These stations will feature a pulley-based charger design to improve user ergonomics and keep cables off the ground.

To manage the high-power requirements of 1500 kW charging, the stations use energy storage systems to buffer the demand, reducing the load on the local power grid.

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Horse Powertrain, a global leader in advanced and low-emission powertrain solutions, has unveiled its new Amorphous Motor technology, marking a significant step forward in hybrid transmission systems. The innovation was introduced to the public for the first time at the IAA Summit 2025.

Central to the motor’s design is the use of amorphous steel, a material known for its exceptional strength, durability and magnetic properties. This material allows the company to significantly reduce the thickness of the steel laminations used in the motor’s stator. While traditional motors use steel sheets of a standard thickness, the layers in the Amorphous Motor are only 0.025 mm thick, roughly one-tenth of the conventional standard.

This ultra-thin construction, combined with the material’s high conductivity, leads to a 50 percent reduction in stator iron losses compared to similar designs. Consequently, the motor achieves a record-setting efficiency of 98.2 percent, all while delivering a maximum output of 140 kW and 360 Nm of torque.

The practical impact for hybrid vehicles is a one percent improvement in overall fuel and energy efficiency. This reduction in consumption supports automotive manufacturers in their efforts to develop a new wave of lower-emission models. This breakthrough is part of a broader strategy by Horse Powertrain to advance hybrid and combustion technologies through a technologically neutral approach to decarbonisation. The company’s global capabilities, which include 17 manufacturing sites, five research and development centres and a workforce of 19,000, continue to drive this series of high-efficiency innovations.

Ingo Scholten, Deputy Chief Technology Officer, Horse Powertrain, said, “This latest innovation demonstrates Horse Powertrain’s continued commitment to research and development, providing suppliers and OEMs with the tools to raise the bar on when it comes to fuel economy and emissions performance. The Amorphous Motor is an ideal tool to power a new generation of high-efficiency range extended EVs, hybrids and plug-in hybrids, ensuring these technologies continue to play a substantial role in automotive’s decarbonisation journey.”

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