IMPORTS OF CHINESE auto components, which used to be quite high till a few years ago, are now seeing their growth rate plateauing. The share of Chinese manufacturers in the domestic auto component industry stood at 28% in the first half of FY25, data shared by the Automotive Components Manufacturers Association (ACMA) showed. In FY24, their share was at 29%.
While India is developing capabilities through private investments in areas such as electric vehicle battery cells, where China has an estimated 70% share of the global EV battery market, there are certain areas which require large investments, said a senior industry executive.
This story is from the December 19, 2024 edition of Financial Express Chandigarh.
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This story is from the December 19, 2024 edition of Financial Express Chandigarh.
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