Abstract:

Digitization, increasing automation and new business models have revolutionized other industries, and the automotive industry is on the verge of disruption. While Indian EV sales remain low, examples from other countries indicate that four factors Regulations and incentives, technology, infrastructure and customer demand could determine the pace of EV penetration in India. The Indian automotive industry has started to experience the effects of this global disruption. This report outlines the importance and imminence of the disruption, the drivers of electric vehicle penetration and the implications for all stakeholders, especially auto component manufacturers. Acknowledging the upcoming disruption and reinventing the business accordingly is the key to managing the changes that lie ahead.