The fourth edition of the ‘Transforming Mobility 2024 – Global Summit & Expo,’ organized by the Automotive Component Manufacturers Association of India (ACMA), concluded with great success at the Manekshaw Centre in New Delhi. This event, held on February 26 & 27, 2024, gathered over 50 manufacturers of EV components and attracted a diverse group of attendees, including OEMs, startups, policymakers, and international delegates from more than 16 countries. Designed to foster partnerships and enhance local production, the expo not only showcased a wide range of EV technologies and components, highlighting the industry’s manufacturing prowess, but also aimed at bolstering India’s EV exports to international markets, including India-like economies. Rajesh Rajgor, who witnessed the event firsthand, reports on its achievements and objectives.
Under the aegis of the Market Access Initiatives (MAI) Scheme of the Ministry of Commerce, Government of India, the auto component industry in India recently showcased its burgeoning capabilities in the electric vehicle (EV) sector at a pivotal event aimed at bolstering exports. With a clear focus on EV components, the event witnessed participation from nearly 50 plus companies displaying their EV products to 55 international buyers from a diverse range of countries.
ACMA President Shradha Suri Marwah emphasized the transformative potential of electric vehicles and the manufacturing opportunities in India, citing substantial investments in manufacturing and R&D, and a strong performance of the auto components industry with a record turnover of USD 70 billion in FY23. With supportive government policies and robust macroeconomic fundamentals, the industry anticipates continued growth and significant investment in new-age technologies, including electronics and EV components, underscoring a bright future for EV adoption and component supply to OEMs.
Vinnie Mehta, Director General of ACMA, expressed his enthusiasm for the event, noting, “This event marks a new chapter in the export of EV components. India’s auto component industry is not just capable but now stepping into a space of opportunity that aligns with the global shift towards electric mobility.” This initiative was part of a broader strategy to promote Indian exports, leveraging the country’s competitive edge in the automotive component sector and its burgeoning EV industry.
Scaling Up Indian EV Exports
Highlighting the focus on two-wheelers in India’s EV revolution, Mehta added, “India is leading the EV revolution with two-wheelers, and we hope to see this trend replicated in other developing countries, opening another vista of opportunity for Indian manufacturers.”
“Technology is a great leveler, and the range of technologies and components displayed here is a testament to the Indian auto component industry’s capability and adaptability in the EV space,” Mehta remarked, underscoring the industry’s potential for growth and its ability to compete on a global stage.
The selection of international buyers and markets for this event strategically focused on developing countries, where India-like conditions present significant opportunities for the adoption of Indian EV technologies and products. This focus on developing markets, coupled with the ongoing shift towards electric mobility in India, particularly in the two-wheeler and three-wheeler segments, highlights the potential for Indian manufacturers to expand their global footprint.
Reflecting on the success of the event and the future prospects for the Indian auto component industry, Mehta concluded, “With the confidence and capabilities our industry possesses, we are hopeful for a substantial scale-up in exports. As we navigate through exciting times, the industry is geared towards embracing technological advancements and exploring new markets, ensuring its relevance and competitiveness on the global stage.”
The commitment to making this an annual event reinforces ACMA’s dedication to supporting the Indian auto component industry’s growth and its transition towards electric mobility, highlighting the critical role of innovation and market expansion in achieving these goals.
Unveiling Diverse EV Technologies
The ACMA EV Expo marked a significant milestone in the electric vehicle (EV) industry, serving as a comprehensive platform for showcasing a vast spectrum of innovations and technological advancements tailored for the growing EV market. The event highlighted the industry’s technological versatility, featuring a diverse range of EV technologies from battery cells, differential gears, and two-wheeler frames to prototype vehicles. Notably, some exhibitors demonstrated the potential for converting internal combustion engine (ICE) vehicles to electric, signifying the sector’s adaptability and readiness to meet global market demands.
The expo emphasized India’s emerging role as a global manufacturing hub for EV components, with exhibitors unveiling state-of-the-art electrification solutions. These included highly scalable axle drives that integrate permanent-magnet synchronous machines with inverters and reducers, alongside innovative high voltage boxes for efficient AC and DC battery recharging from the power grid. Advanced control systems were also showcased, aimed at optimizing vehicle performance through precise torque distribution among various units.
A key focus of the exhibition was on enhancing battery performance and longevity, with cutting-edge battery thermal management systems and heat exchangers taking center stage.
Additionally, the expo presented an impressive array of EV-ready products and technologies, such as advanced bearings for electric motors, which are essential for high efficiency and durability. The event also shone a light on the refurbishment of vehicles to EVs, with solutions aimed at extending vehicle lifecycles, thereby promoting sustainability and offering cost-effective alternatives for EV adoption.
The ACMA EV Expo served as a testament to the significant strides being made towards reducing carbon emissions and fostering sustainable mobility solutions. It provided a crucial platform for collaboration and technological exchange, enabling industry players to forge partnerships and accelerate the global transition to electric mobility. This event not only showcased the comprehensive approach adopted to tackle EV manufacturing challenges but also affirmed the industry’s commitment to innovation, sustainability, and enhanced performance in the electric vehicle ecosystem to make India a global manufacturing hub for EV and EV components.
