Some of the recent investments made/planned for the auto component sector are as follows:

• In March 2022, Minister of State for Power and Heavy Industries Mr. Krishan Pal Gurjar, said that Indian and foreign automobile manufacturers have taken initiatives to develop hydrogen fuel cell vehicles.
• In June 2022, German auto component major ZF inaugurated and expanded its new tech centre in India.
• In January 2022, e-bike maker Emotorad announced plans to raise US$ 25 million to expand in the US markets.
• In December 2021, Exponent Energy, an Electric Vehicle (EV) start-up, secured a pre-series funding of US$ 5 million.
• In December 2021, India’s leading automobile platform CarTrade Tech invested US$ 100 million for a new acquisition and to accelerate growth.
• In October 2021, Wheels India announced it would invest an additional Rs. 37 crore (US$ 4.95 million) this year to support global service demand.
• In October 2021, Lucas TVS announced a 20% capacity expansion of its auto and non-auto businesses by the end of 2021.
• In October 2021, Hero Motor formed a joint venture with Japanese two-wheeler major Yamaha to manufacture electric motors for e-bicycles for the global market.
• In October 2021, the Maharashtra government signed an MoU with Causis E-Mobility Pvt. Ltd., a joint venture of UK-based Causis Group, to set up a zero-emission EV manufacturing facility at Talegaon, near Pune, with an investment of Rs. 2,800 crore (US$ 317.96 million).
• In October 2021, Sona BLW Precision Forgings Limited, through its wholly owned subsidiary Sona Comstar eDrive Private Limited (Sona Comstar), entered a collaboration agreement with Israel's IRP Nexus Group Ltd. to develop, manufacture and supply magnetless drive motors and matching controller systems for electric two- and three-wheelers.
• In October 2021, auto component manufacturer MM Forgings Ltd. (MMF) acquired CAFOMA Autoparts for Rs. 33 crore (US$ 4.38 million).
• In October 2021, TVS Motor Company, collaborated with Tata Power, to boost the comprehensive implementation of Electric Vehicle Charging Infrastructure (EVCI) across India and deploy solar-powered technologies at various TVS Motor locations.
• At the Investment Conclave - 2021 in Chennai, the Tamil Nadu government stated that it received investment commitments totalling Rs. 28,508 crore (US$ 3.85 billion) from 49 companies. Electronics, automotive components, industrial parks, information technology and manufacturing are some of the sectors where these investments are expected to generate about 83,482 jobs in the state.
• The Indian government has outlined US$ 7.8 billion for the automobile and auto component sector in Production-Linked Incentive (PLI) schemes under the Department of Heavy Industries.
• In May 2021, the Government of India approved a PLI scheme for manufacturing advanced chemistry cell batteries at an estimated outlay of Rs. 18,100 crore (US$ 247.3 million).
• In March 2021, the government announced plans to offer fresh incentives to companies manufacturing EVs as part of a broad auto sector scheme. The scheme is expected to attract US$ 14 billion of investment in the next five years.
• In February 2021, Vedanta Resources launched its newest product — aluminium cylinder head alloy — a crucial raw material for manufacturing cylinder heads and other automotive components.
• A cumulative investment of around Rs. 12.5 trillion (US$ 180 billion) in vehicle production and charging infrastructure would be required until 2030 to achieve India’s EV ambitions. This is likely to boost demand for auto components from local manufacturers.
• In January 2021, Suzuki Motor Corp. and Hyundai Motor Co. announced plans to explore ways to make India a key global hub for sourcing components and enable a sharp rise in vehicle exports from the country.
• In January 2021, French battery system supplier Forsee Power pledged to invest Rs. 82 crore (US$ 11.18 million) in phase 1 of the India project.