BRANDED CONTENT: Today’s key future drivers are electric vehicles

Electrical Vehicles are not the sole solution in the cleanup process nor are hydrogen and e-fuels, CNG, LNG the panacea of solution. It will have to be a broader mix-up and may be the customer has to decide how green the vehicle is as per:

• Infrastructure available and ease of use.
• Procurement and Operational cost.
• Lifestyle and what suits the individual.

As the technology for green fuels including EVs grow and the costs are closer to IC engine vehicle, it will be a trigger for shifting to electrical vehicle and other green fuels subject to strong infrastructure and ease of running the vehicle.

How to transform the present and how to reimagine the future is the challenge being faced by the auto component world. How green is really green is yet another aspect?

While petrol and diesel are expected to remain the main stay to meet the fuel demand for at least a couple of decades more, regulatory thrust and genuine concern of environment would certainly create a push towards low carbon energy applications, thus enhancing, the consumption of natural gas and bio fuel in the energy basket.

THE ELECTRICAL VEHICLE SURGE
Today’s key future drivers are e vehicles. How will they affect the supply chain? Nature of service will change from service centers to mobility service and enhanced road side assistance.

Redefining the supply chain scenario will have to be as per aggressive expansion of electrical fueling. Understanding and forecasting for changed landscape of auto components for electrical vehicle is the way forward.

We need accountability in the system, target setting, strategies and measurable indicators to manage these transitions. Delivering the best solutions for evolving the electrical automotive sector will have to be looked into and based upon the current ecosystem and through the prism of development of newer technologies to meet the changed requirement.

In re-defining the road map, the software development skills in the supply chain will radically enhance. Navigating from present range of auto components to green suppliers should be the goals in India to become a hub for competitive EV components. If we provide and develop cutting edge global technology for EV components, there could be a reasonable slice for Indian EV component market for everyone.

India’s EVcomponent market could hit $206 (Source) million by 2030, so a big investment and policy push is needed for production and improving infrastructure for this segment. Auto component sector is currently seeing momentum of another kind – a marked shift towards the Electrical Vehicles.

Examples:

RUBBER PARTS
Electrical Vehicle brings greater demand for rubber parts to create shield and covers for electrical parts. By supplying of rubber parts with green technology to manufacture shields and covers of Electrical Vehicles parts will be the need of the hour.

CONTROL CABLES
Dawnsun Group possess expertise for Body Cables like Hood Latch Release, Door Latch Release, Fuel Lid Opener Cable, Back Door Opening Cable, Tail Lid Opening Cable, Window Regulator Cable and light weighted parking brake cable which will continue to be part of Electrical Vehicles.

OTHER AUTO COMPONENTS SOLUTION FOR HYBRID and EV SYSTEM  
Electrical Horns, DC Converter, Smart USB Charger, Brake Pads, Brake Shoes, Batteries, Automotive Lamps. Engine Oils, Control Valves, Vacuum Pumps, Corking Valve, Actuators, Controlling Sensors, Adapters etc. will always be the essential parts of Electrical Vehicles.

As we scale up our balance of significance, experience, technology and automation, it will go beyond ordinary practices to include innovative solutions using modern and proven Tactics. Technological evolution can easily be resonated by digital innovation witnessed in respective fields. Digital Innovation have miniaturized the technology evolution to the finer nitty-gritties.

Towards smarter and sustainable solutions, we need to review with OEMs of domestic and global electric 2-3 wheelers, 4 wheeler manufacturers and startups working in this field.The need to ensure world class Technology development which is highly automated and use digitization as well as AI (Artificial Intelligence) solutions.

NAVIGATING THE VUCA WORLD
The Automotive industry requires a robust global supply chain in which each tier can deliver quality goods in timely manner. What had clearly worsened in VUCA world was the blow of fragile supply chain on the global supply side. So arose the urgent need of localization and lesser dependence on global supply. Managing the risk and challenges with innovation is the order of the day for most businesses today.

Swearing by the quality mantra and agility is the key. Being stable and agile is absolutely essential in today’s volatile time. We believe that ability to balance expertise, agility, technology and automation, driving service excellence from our customer is the biggest challenge in today’s time. Delivery growth through diversity have to move relentlessly for innovative premium products to give our customers what they truly deserve. Putting priorities into practice with customer’s centricity are new growth paradigm in new world order Customer first.

We need to have holistic mind set and integrated range of solutions for data driven developments, simulations and valuations. The highs and lows, the anxious and heady moments, taking a deep breath when things were not quite working as per the plan, finally result in enormous sense of satisfaction achieving unexpected successes in VUCA world. Never say die attitude even in difficult moments, need a tremendous patience and resilience to put the house in order. Coping with the VUCA world, today’s challenges are a lot greater for component makers.

Since the time, the global economy went into a tailspin with the Lehman crisis a decade ago, things have not been quite the same again. The industry has had to deal with stricter regulation norms, increase in tariff. Low debt equity ratio is an essential in managing the challenges. Unrelenting focus on keeping wasteful expenses in check is necessary for the company to remain profitable.

The next important thing is driving efficiency and productivity on the shop floor through automation and digitalization of processes. Additionally retaining talent across the organization through more robust system and processes is as vital. This happens by way of more transparent rewards and recognition processes, career path for high potentials and effective performance management systems.

Digitalization across all business processes horizontally and vertically right from RFQ receipt to after sale, alignment with customers as well as with suppliers is the key as it enables speedy and better decision making through accurate data analytics.

Focus on Customer satisfaction, overall cost efficiency and low cost automation and innovations will be the key differentiator going forward. One has to invest and grow but one has to be mindful of keeping cost in check where planning and strategies become important from view point of overall operational efficiency and profitability