Abstract:

The ACMA–YES BANK report examines the evolving electric vehicle (EV) landscape in India and its implications for the auto component industry. It identifies significant growth opportunities in EV segments such as two-wheelers, three-wheelers, passenger vehicles, and buses, driven by policy support and rising adoption. The report highlights emerging opportunities in batteries, power electronics, electric powertrains, connectivity, and control systems, while noting the gradual decline of several ICE-specific components. It recommends that Indian component manufacturers invest in technology, innovation, and new EV value chains to strengthen global competitiveness and capture future market growth.