Advantage India
Growing
Demand
* Rising middle-class income and a huge youth population will result in strong demand.
*In December 2024, the total production of passenger vehicles*, three-wheelers, two-wheelers, and quadricycles was 19,21,268 units.
* The global EV market was estimated at approximately US$ 250 billion in 2021 and by 2028, it is projected to grow by 5 times to US$ 1,318 billion.
Opportunities
* India could be a leader in shared mobility by 2030, providing opportunities for electric and autonomous vehicles.
* Focus is shifting to electric vehicles to reduce emissions.
Rising
Investment
* The automobile sector received a cumulative equity FDI inflow of about Rs. 3,22,015 crore (US$ 36.21 billion) between April 2000 - September 2024.
* India is on track to become the largest EV market by 2030, with a total investment opportunity of more than US$ 200 billion.
Policy
Support
* The Centre has launched the PM E-DRIVE scheme with a budget of US$ 1.30 billion (Rs. 10,900 crore), effective from October 1, 2024, to March 31, 2026. The initiative aims to accelerate the adoption of Electric Vehicles (EVs), establish charging infrastructure, and develop an EV manufacturing ecosystem in India.
Maruti Suzuki
Maruti Suzuki India Limited, subsidiary of Suzuki Motor Corporation, Japan, is India’s biggest car maker with more than 39.7% market share in the passenger vehicles segment in January 2024. The company recorded passenger vehicle sales of 1,16,411 units in January 2024.
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Tata Motors
Tata Motors was established in 1945 under the Tata Group. It is among the world’s leading manufacturers of automobiles with an employee strength of around 81,090. It is present in multiple segments like cars and utility vehicles, trucks and buses, defence vehicles, and electric vehicles. The company has extended its presence internationally through Joint Ventures (JV) like the strategic alliance with Fiat and Marcopolo. Tata Motors is present in about 175 countries with Research and Development (R&D) centres in UK, Italy, India, and South Korea.
Read MoreHero MotoCorp Limited
Hero MotoCorp Limited (formally Hero Honda Motors Limited) is the world’s largest manufacturer of two-wheelers. It is present in South Asia, Africa, the Middle East, and Latin America. Hero MotoCorp was the first Indian two-wheeler company to establish a manufacturing plant in Latin America. Its key products include two-wheelers up to 350cc and spare parts.
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