The electric vehicle space in India is booming, leading to a rapid increase in the demand for electric vehicle components. This surge is positively impacting the EV components manufacturing segment, which has been valued at $15.23 billion in 2023, and is poised to reach a valuation of $109.34 billion by 2030, marking a growth rate of 500 to 600 percent. However, despite a promising future, there is a huge supply chain dependency on China driven by the low costs and ample availability of raw materials. Nevertheless policy driven incentivization (FAME I & II), PLI and PM E-Drive are all contributing to the sector’s rise.
Rapid technology advancements,rising costs, and minimizing product life are all posing major challenges, none of which, however, are big enough to intimidate SEG Automotive, a global EV components manufacturing giant that brings unparalleled technologically sophisticated solutions that last a long period of time. The company is also renowned for offering solutions that come with deep localization content and can benefit OEMs to be competitive in the market.
Zero Defect Products
With innovation running through its DNA, SEG Automotive possesses expertise in developing EV components that are perfectly aligned with the unique needs of the market. The company’s PFM (Product fit to Market) approach plays a pivotal role in driving success of its product range in the market. In line with this approach, SEG Automotive localizes its solutions, and introduces the right technologies which match the market demands.
In addition to its product focus, the company also stands out for its strong focus on optimizing its supply chain, by means of a de-risking policy, which helps in managing ongoing geo-political issues.
With a legacy of 100 years, SEG Automotive has mastered the art of manufacturing unmatched rotating electrical machines. The firm leverages this expertise to innovate solutions to address challenges that need redressal, while aligning the solutions with the regulatory norms, and taking care of cost considerations.
“At SEG Automotive, we strictly adhere to automotive industry standards (e.g., IATF) and adapt to the customer-specific requirements. We have developed tools to capture and evaluate the customer requirements and make sure that we adopt the right process from sourcing to final assembly. This approach enables us to achieve ‘Zero defects’ in our products, and also ensures highest quality across all categories”, shares Anil Kumar MR, President & Managing Director, SEG Automotive.
With innovation running through its DNA, SEG Automotive possesses expertise in developing EV components that are perfectly aligned with the unique needs of the market
Journey and Future
Over the decades, the company has become the competence centre for Light Electric Mobility segment that caters to the local and global markets from India. Complemented by a highly competent, global R&D team, the company drives innovation and thrives on creating an environment that fits everyone. What sets the company apart is its extensive experience, with more than 450,000 motors successfully running in the field. Motivated by the ‘Atmanirbhar Bharat Campaign’, the company also outshines competitors by focusing on localization of its products, and a fully flexible platform that encompasses a scalable e-machine, software and electronics with required in-house capabilities to adapt to specific customer needs.
These milestones have been recognized several times, with SEG Automotive receiving prestigious accolades like the Top 50 Innovative companies, CII EXIM Bank Business Excellence Platinum Award, Excellence in Exports and New Product Design, Development & Localization, Advance Problem Solving for Products, and recognition for New Product Design and Development & Localization.
Growing further, SEG Automotive plans to continue focusing on innovation and investing in future technologies. Electrification is a core focus area, along with moving towards high-voltage applications for four-wheelers, with the aspiration of becoming a one-stop system solution supplier globally.
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