Auto component industry to widen revenue streams

23 Jun 2022 CW Team

As Indian automakers pour in $ 5 billion of investment to manufacture electric vehicles (EVs), auto component producers seek to march in step by augmenting capital expenditure.

Auto parts makers include Minda Corporation, Sona Comstar, NEI Industries, Anand Group, Sansera, Lucas TVS, JBM Auto, Rane, Brakes India, JK Fenner, and Lumax announced plans to expand their capacity and create new skills to tap into the demand for EV parts.

According to ICRA's sample study of 49 large auto ancillary companies the auto component industry might devote about Rs 16,700 crore in the financial year 2023 for capital expenditure and about Rs 20,800 crore in the financial year 2024.

In this space, EV projects are expected to be around 25-30% of total investment, the research company added.

ICRA Limited vice president & sector head-corporate ratings said that they expect the Capex investments from the larger ancillaries to be around 6-6.2% of operating income in the financial year 2023. The recently announced PLI scheme would further contribute to boosting the Capex over the medium-term besides investments via new entrants in the EV segment.

Image Source

Also read: Delhi government to electrify all 62 bus depots

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..