India is the third largest automobile market it has to depend on China for EV Components as the use of components is needed for the production of EVs.
EV Components-India Depends On China Imports
The Government’s aims for the electrification of vehicles up to 30% by 2030, it is taking all the necessary steps to promote eco-friendly vehicles in the country.
India Imported $4.3 Billion EV Components From Chinese
India in the financial year 2018 have received the components from Chinese around $4.3 billion up to 27%. The automotive industry executives said that it seems not to slow down in the future.
India Imports Ten Times More From China
India’s import numbers are much high to more than ten times from China than the export. The increasing of imports of auto components from China will risk the local auto component manufacturing ecosystem which leads to a large trade deficit with China in a couple of years.
The exports from Chinese includes mainly the electronic components of vehicles which are used for the manufacturing of EVs.
Exports From China Will Rise More
China leading the EVs market, 60% of global volumes and battery technology and many components and sub-components of EVs are exported from China which may go up in the coming years and also the other the reason is the unavailability of the hardware manufacturing base in India is pushing the OEMs and Tier-1 suppliers for the Chinese imports.
Programme Manager, Mobility (Automotive And Transportation), Frost & Sullivan
Aswin Kumar, programme manager, mobility (automotive and transportation), Frost & Sullivan said, “Even today, the share of certain components like imports of DC motors from China is very high.”
Chief Procurement Officer At Mahindra & Mahindra
“The imports from China are mainly for EV components as we do not have well-established EV parts making ecosystem in India. Non-EV parts are imported mostly for tactical reasons like gaps in local capacities and cost benefits,” said Hemant Sikka, chief procurement officer at Mahindra & Mahindra.
Drive transmission, steering-electricals, interiors, and engine components are some of the things that are majorly imported from China.
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