Chennai, June 23 (TIWN) Sensing a global opportunity in the electric vehicles (EV) segment, Indian automotive ancillaries are shifting gears in sync with the trend, said a top industry sector official.

Many of the players in the $46 billion (FY21) industry are also supplying to non-auto sectors like defence, railways and aerospace, Automotive Component Manufacturers Association of India (ACMA) President Sunjay J. Kapur said.  “About 60 per cent of our Executive Committee members (about 50) are ready to supply components for EVs and the remaining 40 per cent will be ready next year. EV is an opportunity for Indian auto component makers. Electrification is happening by government regulation and consumer demand,” Kapur told IANS.  He said the vehicle makers have an EV platform for most of the new models.  Also auto ancillaries are also moving towards sustainable/green manufacturing, Kapur added.  Given this, auto ancillaries are also investing towards future and EV technologies in the areas of telematics, display units and others like sustainable manufacturing technologies.  Kapur said 75 companies have been approved under the Productivity Linked Incentive (PLI) scheme.