Advantage India
Growing
Demand
* Rising middle class income and a huge youth population will result in strong demand.
* In January 2022, total production of passenger vehicles*, three-wheelers, two-wheelers and quadricycles reached 1,860,809 units.
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.
* The electric vehicles industry is likely to create five crore jobs by 2030.
Rising
Investment
* The automobile sector received cumulative equity FDI inflow of about US$ 30.78 billion between April 2000 and September 2021.
* The Government of India expects automobile sector to attract US$ 8-10 billion in local and foreign investments by 2023.
Policy
Support
* In September 2021, the Indian government issued notification regarding a PLI scheme for automobile and auto components worth Rs. 25,938 crore (US$ 3.49 billion).
* Automotive Mission Plan 2016-26 is a mutual initiative by the Government of India and Indian Automotive Industry to lay down the roadmap for development of the industry.
Maruti Suzuki
Maruti Suzuki India Limited, subsidiary of Suzuki Motor Corporation, Japan, is India’s biggest car maker with more than 51% market share in the passenger vehicles segment in FY20. The company recorded sale of 1,457,861 units in FY21. Maruti Suzuki’s passenger vehicles sales stood at 133,732 units in August 2021.
Company Website: https://www.marutisuzuki.com/
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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 around 81,090 employee strength. It was the market leader in commercial vehicles segment with about 45% market share in FY19. It is present in segments like cars and utility vehicles, trucks and buses, and defence 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. Tata Motors sold 29,781 commercial vehicles in August 2021.
Company Website: https://www.tatamotors.com/
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, 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. The company has an objective to reach 50 global markets by 2020.
Company Website: https://www.heromotocorp.com/en-in/
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