JANUARY 20254Powering India's EV Revolution India is witnessing a high growth in the manufacture of electric vehicle (EV) components due to a simultaneous rush by global push towards sustainable transportation and its own initiatives to encourage domestic EV ecosystem. As India attempts to reach its target of 30 percent electric mobility by 2030, the EV component manufacturing industry has become a key enabler of the transition. The India's EV component market consists of batteries, electric motors, controllers and power electronics. Lithium ion battery production among these is expanding quickly due to growing demand for energy efficient storage solutions. Many domestic and foreign players have announced the plans to build giga factories, as well as a solid supply chain for EV battery. Alongside this, the development of solid state batteries is stimulating this field. The domestic manufacturing has been promoted by the government policies like Production Linked Incentive (PLI) scheme for the Advanced Chemistry Cell (ACC) battery and FAME-II (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) incentives. These initiatives are driving investments by established manufacturers and startups that lead to localized production and reduced dependency on imports. However, collaborations between Indian manufacturers and global technology providers are strengthening technical expertise and creating R&D capabilities. The development of electric motors and powertrain systems is a prime example of where innovation is important to improving EV performance and efficiency and this is particularly clear in this collaboration. Job creation is also taking place in the EV component sector as well as for ancillary industries like electronics, software development and raw material processing. In this special issue, we introduce you to the top companies from this segment. Industry Outlook has identified the select few companies that have done particularly well with a high level of dedication. We have found that they have gone the extra mile in proving their commitment to excellence in an integrated manner. We welcome your feedback and suggestion that you may have concerning this special issue. Sudhakar SinghManaging Editoreditor@theindustryoutlook.comVol 5 · Issue 03 - 01 · JANUARY, 2025Publisher Alok ChaturvediManaging Editor Sudhakar SinghAssociate EditorDarshan KAssistant Editor Roshan AktharEditorial TeamLakshmi PrabhaViswanathan AThiruamuthan T KGM - Media & Graphic Designing VisualizerPrabhu Dutta A.R.N Ray Senior DesignerRajesh R B Visualizer V Hari PriyaAdvertising QueriesPrajnya Paramita BholVidyashri Patil Jaya AroraGM Sales & MarketingVirupakshi Pattarsales@theindustryoutlook.com Editorial Querieseditor@theindustryoutlook.comCirculation Manager Magendran PerumalMagazine Price is Rs. 150 per issuePrinted and Published By Alok Chaturvedi on behalf of Biz Print Media Technologies Pvt. Ltd. and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Publisher Alok ChaturvediCopyright © 2025 Biz Print Media Technologies Pvt. Ltd. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.
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