Clocking USD 74.1 billion turnover and a growth of 9.8 percent in FY2023-24 on a year-on-year basis, the Indian auto components industry body (the Automotive Components Manufacturers Association) ACMA has announced the finding of its ‘Industry Performance Review’ for FY2023-24. 

The report mentions that the turnover growth of the automotive component industry is influenced by factors such as the rise in consumption of increased value-added components, thrust on localisation and a market shift in terms of increasing preference for larger and more powerful vehicles. 

On the exports front, the report highlighted a growth of 5.5 percent to USD 21.2 billion in FY2023-24 as compared to USD 20.1 billion in the last fiscal. North America accounted for 32 percent of the exports with a growth of 4.5 percent. Europe accounted for another 33 percent with a growth of 12 percent. Asia accounted for 24 percent of the export market with the growth remaining flat. The key components that were exported in FY2023-24 were drive transmission and steering, engine components, body and chassis, suspension and braking systems etc. 

The report also stated that exports, with trade surplus (CAGR of export is twice that of the import) have remained study in the wake of political challenges. 

Witnessing a growth of three percent in FY2023-24 to USD 20.9 billion as compared to USD 20.3 billion in FY2022-23, imports were of the following nature: engine components, body and chassis parts, suspension and braking parts, drive transmission and steering parts.

Asia accounted for 66 percent of imports followed by Europe and North America at 26 percent and eight percent respectively, imports from Asia grew three percent and that from Europe by four percent. Imports from North America remained flat in FY2023-24. 

On the aftermarket front, the increased movement of vehicles and surge in demand for used vehicles led to buoyancy across segments. The turnover of the aftermarket in FY 2023-24 was USD 11.3 billion. In FY2022-23, it was USD 10.6 billion. The e-commerce sector involvement has led to the aftermarket witnessing gradual shift into organised trade. The digital route is also leading to higher penetration in the hinterland of the country.  

The supply to electric vehicles accounted for six percent of the auto components industry turnover of USD 74.1 billion. The Indian auto component industry is optimistic on the back of the robustness exhibited by the economy.  

Regarding the performance of the auto component industry, Vinnie Mehta, Director General, ACMA, said, “On the back of steady vehicles’ production in the country, a robust aftermarket and growth in exports, the auto component industry grew to Rs. 6.14 lakh crore (USD 74.1 billion) registering 9.8 percent growth in FY23-24, thus outpacing the turnover of Rs. 5.59 lakh crore (INR 55.9 billion) in the previous fiscal. Component supply to OEMs in the domestic market grew by 8.9 percent to Rs.5.18 lakh crore (INR 51.8 billion), with supply to the EV manufacturing industry accounting for 6% of the total component production in the country. Exports grew by 5.5 percent to USD 21.2 billion while imports grew by three percent to USD 20.9 billion, thus resulting in a trade surplus of USD 300 million. The Aftermarket, estimated at Rs. 93,886 crore (USD 11.3 billion) also witnessed growth of 10 percent.”  

Shradha Suri Marwah, President, ACMA, and Chairman & Managing Director, Subros, mentioned, “It is pertinent to note that apart from increase in vehicle production, higher value addition from the component sector has led to growth in the auto components sector. On the front of trade, whilst overall merchandize exports from India witnessed degrowth in FY24, auto components exports have grown despite geopolitical challenges and increase in logistics costs. That apart, growth in imports has been comparatively lesser, leading to trade surplus, indicating thrust by the industry on front of localisation.”

“Steady growth in the vehicle industry has resulted the industry reaching pre-pandemic levels of performance in FY24 in most segments, however, the first quarter of FY25 witnessed somewhat slower offtake in vehicle sales, especially in PVs and CVs, given the high base, due to inclement weather conditions and elections. With strong macro-economic indicators, conducive government policies and over seven percent growth projected for the Indian GDP, we are hopeful that the auto components industry will continue to perform well in FY25,” she articulated. 

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Wayve, NVIDIA and Stellantis have announced a joint collaboration alongside the French government at the Assises du Véhicule Autonome to support the deployment of autonomous vehicles in France and across the European Union.

The initiative combines Stellantis’ L4-Ready Platforms with the Wayve AI Driver system, integrating NVIDIA Halos OS on the NVIDIA Hyperion compute and sensor architecture. The collaboration aims to establish an autonomous vehicle value chain in France, spanning silicon development, software integration and vehicle manufacturing.

Local transport partners will engage with trade unions, municipal authorities, and mobility stakeholders to address regulatory alignment, safety requirements, and operational deployment.

Philippe Tabarot, French Minister of Transports, said, "I am pleased to see this collaboration between Wayve, NVIDIA and Stellantis launched at the Autonomous Vehicle Forum in France. France is committed to adapting its regulatory framework to accelerate the development of autonomous vehicles while maintaining strict safety and data sovereignty requirements. By bringing together trade unions, city authorities, and mobility stakeholders, this collaboration embodies the collaborative spirit of the Assises du Véhicule Autonome, as well as the approach required to transition from trials to real-world deployment."

Kaity Fischer, VP Autonomous Mobility & Operations, Wayve, said, "France is leading the way in preparing for autonomous vehicles, and we’re proud to enter this collaboration at such an important moment. By working directly with the French Government and our partners, we can help shape how this technology is deployed safely and responsibly and accelerate its development across the country and entire EU."

Anne Laliron, SVP of Technology Research, Stellantis, said, "This collaboration will help accelerate the delivery of autonomous driving technologies that make mobility safer and more convenient for customers. While its impact is global, France is one of Stellantis’ key centres for engineering and technology development, making it a natural home for advancing the future of AI-powered mobility."

Ali Kani, VP of Automotive, NVIDIA, said, "Bringing safe autonomous mobility to Europe requires deep collaboration across AI, computing and vehicle engineering. NVIDIA Hyperion platform, combined with Wayve’s embodied AI and Stellantis’ automotive expertise, provides a foundation for that ambition. Together with the French Government and local partners, we can help build an ecosystem that brings the benefits of autonomous driving to communities across France and Europe."

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German luxury carmaker Audi has introduced third-generation digital OLED rear lighting technology on the Q91, marking the production debut of three-dimensionally curved digital OLED panels in the automotive industry.

The lighting system incorporates carrier glass measuring 0.1 millimetres in thickness, allowing a bend radius of up to 200 millimetres to match the vehicle's body contours. The Q91 uses six digital OLED panels housing 512 individual segments, including an outer curved panel with 99 segments.

The curved positioning extends light visibility to wider lateral angles and incorporates warning symbols within the communication light system to alert surrounding traffic to breakdowns, emergency braking or accidents. Up to eight digital light signatures are available across static, active and semi-active display settings.

The vehicle also features digital Matrix LED headlights utilising a 13-millimetre micro-LED module containing 25,600 individual micro-LEDs. The headlight system projects high-resolution lane lighting, orientation paths and dynamic turn signal graphics directly onto the road surface to assist lane centring and indicate directional changes to pedestrians and other vehicles.

Audi first introduced OLED technology on the TT RS in 2016, followed by segmented digital OLEDs on the Q5 in 2020 and second-generation panels on the Q6 e-tron in 2024.

Stefan Berlitz, Head of Lighting Development at AUDI AG, said, "At Audi, light means safety first and foremost – seeing and being seen. Digitalisation opens up entirely new possibilities for further enhancing road safety. The curved digital OLED technology in the Audi Q91 impressively demonstrates this technology’s potential. It combines design freedom, personalization, and communication with the vehicle’s surroundings at a new level. Our vision is to gradually transform light into an intelligent means of communication that makes interaction between the vehicle and its surroundings even safer and more intuitive."

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European ride-hailing platform Bolt has selected the NVIDIA Alpamayo Stack autonomous driving software to operate its vehicle fleet in Europe, starting with Lucid automobiles.

The deployment commences in Madrid in 2027, with subsequent deployment planned in Germany and France. The initiative supports the integration of at least 25,000 Level 4-ready Lucid vehicles equipped with NVIDIA Hyperion compute and sensor architecture. The program contributes to Bolt's objective of deploying 100,000 autonomous vehicles across Europe and the UNECE region by 2035. The system integrates reasoning artificial intelligence with perception and planning modules alongside NVIDIA Halos safety controls.

Jevgeni Kabanov, President and Head of Autonomous Driving, Bolt, said, “Autonomous driving will change how people move around cities, and Europe should play a major role in how that future is built. Our ambition isn't to bring autonomous driving to just a handful of cities. We want to make autonomous ride-hailing available at scale across Europe, with 100,000 vehicles on our platform by 2035. We're bringing together some of the best technologies in the world to make that possible. Following our first autonomous mobility launch in Luxembourg, our next step with NVIDIA and Lucid is to begin a programme in Madrid in 2027. The Region of Madrid is pioneering a structured framework for commercial autonomous mobility in coordination with national authorities. Germany will also be a priority for what comes next, with cities already setting out clear ambitions for autonomous mobility.”

Rishi Dhall, Vice-President of Automotive, NVIDIA, said, “Robotaxis will scale when every vehicle is built on a common, safety-engineered foundation. NVIDIA Hyperion standardises the compute and sensor architecture across vehicle platforms, while NVIDIA Alpamayo Stack and Halos provide the driving intelligence and safety foundation. Bolt’s European platform, operational experience and work with cities and regulators make it a strong partner to bring autonomous ride-hailing to market at scale in Europe.”

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French tier 1 supplier Valeo has announced plans to develop and industrialise high-performance compute platforms utilising the NVIDIA Hyperion reference architecture and NVIDIA Halos safety system.

The initiative combines Valeo's vehicle integration capabilities with centralised computing architectures to support software-defined mobility systems. The platform utilises the NVIDIA DRIVE AGX Thor architecture to deliver processing performance and redundancy for Level 4 autonomous driving, commercial trucking and robotaxi applications. The development framework enables automakers to integrate features and deploy autonomous technologies across vehicle models.

Marc Vrecko, Chief Executive Officer, Valeo Brain Division, said, "Our work with NVIDIA marks a significant milestone in our mission to make autonomous driving a safe, scalable reality. By seamlessly integrating NVIDIA’s advanced compute power into our next-generation platforms, we are delivering the flexible, centralised intelligence vehicle manufacturers require to redefine the driving experience and meet the evolving demands of tomorrow’s intelligent vehicles."

Rishi Dhall, Vice-President of Automotive, NVIDIA, said, "Valeo’s expertise in high-performance computing, vehicle integration and automotive-scale industrialisation will help automakers adopt NVIDIA Hyperion and NVIDIA Halos at production scale. Together, NVIDIA and Valeo are providing the AI performance, functional safety and scalability needed to accelerate the development of Level 4 autonomous vehicles and robotaxis."

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