Latest news with #EV-specific
Mint
21-05-2025
- Automotive
- Mint
Ambit turns neutral on auto sector; favors Endurance, Samvardhana Motherson; cuts Bharat Forge, Sona BLW
Auto ancillary stocks, once favoured for their promising structural tailwinds, have now entered a phase of valuation correction and performance reassessment. According to Ambit, while the auto ancillary (Anc) sector offers multiple growth levers, it continues to lag original equipment manufacturers (OEMs) on key financial metrics such as cash flow generation and return on capital employed (RoCE). In its latest report, Ambit noted that auto ancillaries are benefitting from a broad set of growth drivers including rising content per vehicle, international expansion, premiumization, and India's cost advantage. The sector is also witnessing structural tailwinds from evolving emission and safety regulations, increased localization, and diversification into non-auto segments such as industrial and electrical components. 'Auto Ancs have multiple growth avenues, including content increase, entry into new products/markets, and leveraging M&A. Premiumization, regulatory changes and EV adoption are driving higher component demand,' Ambit said. It added that tech synergies and offshoring opportunities further enhance the sector's long-term prospects. However, Ambit underlined that auto component manufacturers have not fundamentally outperformed OEMs in terms of revenue, EBITDA, or PAT growth. Ancillaries also have higher capex intensity and weaker working capital cycles, resulting in lower free cash flow (FCFF) and elevated debt levels. 'Scope to improve profitability, terms of trade or RoCE appears limited,' the report said. Despite long-term growth visibility, fundamental challenges continue to restrict earnings quality. 'While Ancs may see faster growth ahead, their structurally weaker balance sheets and limited room for operating leverage make them financially vulnerable,' Ambit observed. Ambit identified three key external risks for the ancillary segment — tariff pressures under USMCA, European Union demand weakness, and intensifying Chinese competition. These are particularly critical as many Indian ancillaries are heavily reliant on exports to North America and Europe. The brokerage also pointed to the risk of EV-led disruption, especially for component makers with higher exposure to internal combustion engine (ICE) parts. That said, Ambit believes these challenges may pave the way for new opportunities, such as EV-specific component exports and offshoring to India from stressed European vendors, albeit with longer gestation periods. Ambit noted that Domestic Institutional Investors (DIIs) have continued to maintain an overweight position on auto ancillaries, attracted by higher growth potential and rerating-led gains. This positioning had paid off until early 2024. However, post the recent correction—primarily triggered by tariff risks—the valuation gap between ancillaries and OEMs has significantly narrowed. In contrast, Foreign Institutional Investors (FIIs) have largely stayed underweight on auto ancillaries, preferring the relatively more stable and cash-generating OEMs, Ambit said. Ambit's relative evaluation framework assesses six auto ancillary stocks based on business fundamentals, financial strength, and valuation metrics. Based on this, the brokerage recommended a 'BUY' on Endurance Technologies (ENDU), Motherson Sumi (MOTHERSO), and Samvardhana Motherson International (MSUMI). It downgraded Bharat Forge (BHFC), Sona BLW Precision Forgings (SONACOMS), and Happy Forgings (HAPPYFOR) to 'SELL'. 'Our pecking order in Auto Ancs is ENDU (BUY) > MOTHERSO (BUY) > MSUMI (BUY) > HAPPYFOR (SELL) > SONACOMS (SELL) > BHFC (SELL),' Ambit said. Within the overall auto space, Ambit continues to recommend reducing the overweight allocation that many institutional investors currently maintain, suggesting a neutral stance going forward. Among all auto stocks, Ambit's top three BUYs are Mahindra & Mahindra (MM), followed by Endurance (ENDU) and Motherson (MOTHERSO). It also added Tata Motors (TTMT) to its preferred picks.
Hindustan Times
20-05-2025
- Automotive
- Hindustan Times
Tata Harrier EV launching soon: This is what you should expect
Slated to be the flagship offering from the Indian manufacturer, the Tata Harrier EV is confirmed to launch on June 3. The upcoming battery electric SUV was developed as part of Tata's expanding EV portfolio, incorporating an all-electric architecture while carrying over design and feature elements from its ICE counterpart. Tata unveiled the production-ready Harrier EV at the Auto Expo 2025, and it is expected to be the first new-gen vehicle from the manufacturer to offer a 4WD drivetrain. With the launch right around the corner, here is a look at what to expect from the upcoming SUV: The Tata Harrier EV will be the first new-gen car from the brand to feature a 4WD drivetrain and is expected to deliver a single-charge range of around 500 km. 1 Tata Harrier EV: Design The Tata Harrier EV's exterior is near-identical to that of its ICE-powered sibling. However, it features EV-specific elements such as a blanked-out front grille, a reworked air dam, a revamped skid plate, and aerodynamically optimised alloys. The registered patent design includes thick side cladding and roof-mounted lighting pieces. It is unclear whether these features would be available as standard or listed as optional accessories. 2 Tata Harrier EV: Interior and Features The cabin layout and features are expected to be carried over from the Harrier ICE. Among the list of features likely included as standard are a panoramic sunroof, multi-zone automated climate control, ventilated front seats, a 360-degree surround camera, and dual digital displays that combine the infotainment touchscreen and digital instrument cluster. Additional EV-specific features, such as Vehicle-to-Load (V2L) and Vehicle-to-Vehicle (V2V) charging capabilities, are expected to be standard on the SUV. The Harrier EV is also expected to include a "Summon" mode, which allows the vehicle to go forward or backwards automatically in constrained parking places. 3 Tata Harrier EV: Battery and Range: While Tata has confirmed that the Harrier EV will feature 4WD via a dual-motor layout, a single-motor front-wheel drive variant can be expected at launch. The electric SUV will be constructed on Tata's EV-specific plus architecture and is expected to deliver a range of around 500 km on a full charge. Technical specifications such as motor output and battery capacity are yet to be confirmed. 4 Tata Harrier EV: Safety The Tata Harrier EV is expected to retain the usual range of safety features that are included with other cars from the manufacturer. This will likely include seven airbags, a 360-degree rear camera, front and rear parking sensors, traction control and ESC, hill driving aids and more. The Harrier EV is further expected to feature an ADAS suite of features such as collision warnings, blind spot assist, lane driving aids, and more. Also check these Cars Find more Cars UPCOMING Tata Harrier EV 50 kWh 50 kWh 400 Km 400 Km ₹ 22 - 25 Lakhs Alert Me When Launched Mahindra Thar E 75 kWh 75 kWh 400 km 400 km ₹ 25 Lakhs Compare View Offers Mahindra BE 6 79 kWh 79 kWh 682 km 682 km ₹ 18.90 Lakhs Compare View Offers UPCOMING Kia Carens EV ₹ 20 Lakhs Alert Me When Launched Mahindra XEV 9e 79 kWh 79 kWh 656 km 656 km ₹ 21.90 Lakhs Compare View Offers MG ZS EV 50.3 kWh 50.3 kWh 461 km 461 km ₹ 18.98 Lakhs Compare View Offers 5 Tata Harrier EV: Pricing and Availability The Tata Harrier EV will be officially launched on June 3, 2025, and will take the top spot in the brand's portfolio. As a result, we can expect the battery electric SUV to be priced between ₹24 lakh to ₹30 lakh (ex-showroom). In this price bracket, the Harrier EV will be pitted against the likes of the Hyundai Creta Electric, MG ZS EV, Kia Carens EV, and the upcoming Maruti Suzuki e Vitara. Check out Upcoming EV Cars in India. First Published Date:
Time of India
11-05-2025
- Automotive
- Time of India
Technology Day Special: Navigation tech firms leverage ADAS and EV trends for growth
New Delhi: The automotive landscape is undergoing a transformative shift, with Advanced Driver Assistance Systems ( ADAS ), electrification and AI convergence with next-gen mapping technology taking a centre stage. Navigation has moved far beyond basic turn-by-turn directions–it is now becoming an intelligent, digital, real-time, and predictive system. With the rising adoption of electric vehicles (EVs), the navigation and mapping market is seeing increased demand for EV-optimised routing and highly accurate, autonomous, and semi-autonomous features. 'EVs and ADAS are reshaping the role of navigation–from a convenience feature to a mission-critical intelligence layer,' Sapna Ahuja, President – Automotive Business and COO - MapmyIndia told ETAuto. OEMs, Tier-1 suppliers, and policy planners now view advanced mapping technology as an essential component of the automotive stack. Mapping plays an integral role in EV-specific route planning by considering charging points, elevation gradients, and nearby amenities to support seamless and smarter trip planning, said Sameer Sankhe, Chief Digital Officer (CDO), Genesys , in a conversation with ETAuto. Navigation's rerouting Infusion of ADAS and AI has broadened and provided new revenue and growth opportunities for the navigation companies, who are actively aiming to provide tech-driven and user-friendly solutions to its users. The integration of advanced technology into maps provides augmented reality navigation, ADAS-aware navigation, driver behaviour analytics, connected car ecosystem and personalised experience. High-definition (HD) maps provide safety in vehicles with predictive intelligence, especially during low-visibility and high-speed scenarios, explained Sankhe. 3D maps can detect precise positions in complex environments to correct GPS error if any, that is essential for ADAS Level 2 and beyond. 'Our ADASIS v2+ compliant eHorizon technology allows vehicles to 'see beyond the sensor range' that enables the vehicle to anticipate road geometry, slopes, curves, speed limits, driver alerts and more. This powers L2+ level of autonomy,' said Ahuja. Mumbai-based Genesys is collaborating with OEMs and Tier-1 suppliers to feed real-time ADAS intelligence using their proprietary mapping engine, HD 3-D twins and advanced sensor fusion architecture. What's ahead? Now, navigation system providers have upped their game to provide the best of tools as the autonomous and software-defined vehicles (SDVs) gain traction. New-Delhi based, MapmyIndia is working with advanced, detailed, and updated maps, combined with vehicle-integrated APIs and onboard solutions that power smarter and safer mobility. Genesys, which has an engineering team of 90 members and 350+ ground staff for data collection, is working on building maps that capture 250+ attributes. At present, OEMs require only 10-15 attributes for level 2 ADAS. In a country that loses almost 1.78 lakh lives annually due to road accidents, the intelligent maps can act as a preventive layer.
Time of India
05-05-2025
- Automotive
- Time of India
EVs pose threat to manufacturers of engine components, but also open opportunities in advanced tech: Report
The ongoing transition to electric vehicles (EVs) is expected to reshape the auto component industry by increasing content per vehicle and creating new avenues for suppliers, according to a recent report by Ambit Capital. However, it also highlighted that while the rise of EVs poses a threat to manufacturers dependent on internal combustion engine (ICE) components, it also unlocks significant growth opportunities. ''While EV disruption poses existential risk for the suppliers of ICE-dependent components, it opens up several opportunities for the component suppliers to provide a) EV components like li-ion batteries , traction motors , controllers, BMS etc' It added that the component makers can diversify into EV-specific parts such as lithium-ion batteries, traction motors, controllers, and battery management systems (BMS). Additionally, EVs enable the adoption of advanced technologies like regenerative braking, advanced driver-assistance systems (ADAS) , and smart cockpits, further boosting the role of suppliers in the value chain. Another advantage for component suppliers comes from increased demand for certain parts due to EV architecture . Components such as wiring harnesses, electronic control units (ECUs), and differential assemblies are expected to see greater content per vehicle compared to traditional ICE vehicles. EV adoption in India is projected to grow gradually. Electric two-wheeler (2W) penetration is expected to rise from 6.3 per cent in FY25 to 21 per cent by FY29. Similarly, passenger vehicle (PV) penetration is likely to grow from 2.6 per cent to 10.4 per cent during the same period. In contrast, electric three-wheelers (3Ws) are expected to witness rapid adoption, surging from 22.9 per cent in FY25 to nearly 68 per cent by FY29. However, the report cautions that many EV components are currently imported, which may result in intense competition, especially in the early stages of the EV transition. Despite the growth potential, the shift towards EVs also poses key risks. Suppliers heavily dependent on engine and select transmission components may face existential challenges. The report also flagged three key challenges for the auto components industry - the USMCA/tariff regime, economic weakness in the EU, and competition from Chinese players. As India's auto component industry is heavily reliant on exports to the US and EU, these challenges could strain finances in the near term.
Economic Times
05-05-2025
- Automotive
- Economic Times
EVs pose threat to manufacturers of engine components, but also open opportunities in advanced tech: Report
A recent report indicates that the electric vehicle transition will significantly reshape the auto component industry, creating opportunities for suppliers while posing risks to those reliant on internal combustion engine parts. Increased demand for EV-specific components and advanced technologies will boost the role of suppliers. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Renewables The ongoing transition to electric vehicles (EVs) is expected to reshape the auto component industry by increasing content per vehicle and creating new avenues for suppliers, according to a recent report by Ambit Capital However, it also highlighted that while the rise of EVs poses a threat to manufacturers dependent on internal combustion engine (ICE) components, it also unlocks significant growth report said "While EV disruption poses existential risk for the suppliers of ICE-dependent components, it opens up several opportunities for the component suppliers to provide a) EV components like li-ion batteries, traction motors, controllers, BMS etc"It added that the component makers can diversify into EV-specific parts such as lithium-ion batteries, traction motors, controllers, and battery management systems (BMS).Additionally, EVs enable the adoption of advanced technologies like regenerative braking, advanced driver-assistance systems (ADAS), and smart cockpits, further boosting the role of suppliers in the value advantage for component suppliers comes from increased demand for certain parts due to EV architecture. Components such as wiring harnesses, electronic control units (ECUs), and differential assemblies are expected to see greater content per vehicle compared to traditional ICE adoption in India is projected to grow gradually. Electric two-wheeler (2W) penetration is expected to rise from 6.3 per cent in FY25 to 21 per cent by passenger vehicle (PV) penetration is likely to grow from 2.6 per cent to 10.4 per cent during the same period. In contrast, electric three-wheelers (3Ws) are expected to witness rapid adoption, surging from 22.9 per cent in FY25 to nearly 68 per cent by the report cautions that many EV components are currently imported, which may result in intense competition, especially in the early stages of the EV the growth potential, the shift towards EVs also poses key risks. Suppliers heavily dependent on engine and select transmission components may face existential report also flagged three key challenges for the auto components industry - the USMCA/tariff regime, economic weakness in the EU, and competition from Chinese India's auto component industry is heavily reliant on exports to the US and EU, these challenges could strain finances in the near term.
