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India auto suppliers target EV and higher content per vehicle
The auto ancillary industry is expanding beyond vehicle volume growth as premiumization and rising electronics content are expected to lift demand for components, including EV-related parts.
India's auto ancillary sector is diversifying beyond pure vehicle sales as premiumization and increased electronic content per vehicle create new growth avenues, while the shift toward electric vehicles expands demand for components, according to LiveMint Markets. The broader auto industry recorded turnover of ₹7.6 trillion in FY26, and is expected to grow 8% to 10% in FY27, supported by domestic demand and exports. Against that backdrop, the article highlights several small-cap auto component makers expanding capacity, entering new segments, and targeting higher content per vehicle.
Lumax Auto Technologies, part of the DK Jain Group, manufactures an EV-agnostic portfolio for passenger vehicles, two- and three-wheelers, and commercial vehicles. Its product categories include advanced plastics like cockpits and consoles, mechatronics such as power window switches and antennas, and structures and control systems including smart actuators and gear shifters, plus alternative fuels.
For Lumax Auto Technologies, advanced plastics accounted for 53% of revenue in FY26, followed by structures and control systems at 17% and aftermarket at 10%. The company also mapped its segment mix, with passenger vehicles contributing 53% of revenue and two- and three-wheelers at 24%, and it is pursuing a mid-term plan, BRIDGE, to move from a traditional Tier-1 supplier toward a higher involvement system integrator model.