Dr Mahendra Nath Pandey, Union Heavy Industries Minister, mentioned that India’s transition to Electric Mobility System can save Rs 20 trillion by 2030 on avoided oil imports alone.

Manav Kapur, Executive Director, Steelbird International, shares four critical business abilities that automotive enterprises should acknowledge and execute to manage supply chain issues in future.

India’s passenger vehicle industry is set to lose 500,000-600,000 units in production and more than $5 billion in revenue this fiscal year due to the global shortage of semiconductors, say industry executives.

Auto industry executives expect electric vehicles will make up just over half of new vehicle sales in the United States and China by 2030 and could do so without receiving government subsidies.

Supply chain issues may arise with a magnesium shortage in China and the ongoing global microchip shortage heavily impacting auto industry production, including for General Motors.

From ageing electric batteries to old engines to rear-view mirrors, the auto industry is revving up its recycling efforts as it faces pressure to reduce its colossal carbon footprint.

An ongoing global shortage in semiconductors is on track to cost the world’s automakers $210bn in lost revenue this year, almost double that of previous estimates.

Addressing the media in Chennai, Arun Goel, Secretary, Union Ministry of Heavy Industries, said that the country has seen investments of around $34.5 billion in the last five years.

VE Commercial Vehicles Ltd, a joint venture between Volvo Group and Eicher Motors, are keen to take advantage of the productivity linked incentive (PLI) through expansion plans for electric vehicles.