Our economy is still recovering from the impact of Covid-19. Our country is going through the 2nd wave of the pandemic and is still trying to overcome the losses that happened due to the serious issue of Covid-19.
Recently the GDP data arrived which shows some relief for us, But still, we are facing the serious issues of Inflation across the necessity items.
One of the major is Crude Oil/ Petroleum the prices in India are crossing the mark of Rs.100/Ltr which directly affects the economy. The foremost impact is on the transportation & logistics, which somehow leads to rising in the prices of many essential items & products.
But with the advancement in technologies now we are shifting towards the easiest way of transportation which can work with the help of electricity in the most efficient manner.
The Indian market will soon see a new turnaround in this segment as the market will grow up to USD 47 billion by the end of 2026.
These vehicles are more cost-efficient, will have zero pollution and are more in demand in the USA and other countries. Everyone is looking at Electronic Vehicles as the future and which is soon going to happen.
Even the Government of India has announced a PLI scheme of Rs.57000 Cr for the manufacturing of auto parts which will boost it further.
Here is a list of some important auto-ancillary companies which are benefited:
1) Exide Industries:
The company manufactures lead-acid storage batteries from 2.5 ampere-hours to 20,600 ampere-hours. The company manufactures automotive batteries, industrial batteries, and submarine batteries.
2) Amara Raja Batteries:
The company is one of the largest manufacturers of lead-acid batteries for both industrial and automotive applications in the Indian battery industry.
3) Jamna Auto Industries:
This company is engaged in manufacturing and selling Tapered Leaf, Parabolic Springs, and Lift Axles. It was the first company to introduce parabolic springs in India.
4) Lumax Industries:
The company is a leading supplier of lighting systems in an automobile which includes Head&Tail Lamps, Sundry and Auxiliary Lamps & other accessories for two and four wheeler, Buses & trucks, Tractors, and earthmovers.
5) Minda Industries:
They are engaged in the manufacturing of auto components which includes auto electrical parts & their relative accessories.
6) Asahi India:
This company is a glass manufacturing company in India which is manufactured laminated windshield, antenna printed back lite, solar control glass, Glass antennas, etc. It also manufactures floating glass-like reflective glass.
7) Gabriel India:
The company offers a wide range of ride control products and also enjoys a monopoly position in the market.
8) Bharat Seats:
The company manufacture completes seating & interior components for the automobile. This includes Two & Four wheeler seating, Mould Carpets, Mainframe for a two-wheeler, & Railways Seats.
9) Motherson Sumi:
The company engaged in the manufacturing of automotive wiring, Harnesses, Mirror for passenger vehicles. Mother-son Sumi is also a leading supplier of plastic components & modules in the industry.
Furthermore, companies which are engaged in Tyre manufacturing, Power Generation, and supplying will be beneficial. Moreover, the EV segment will bring a positive change in the automobile segment.
Note: Details shared here are only for educational purposes.