Godrej & Boyce Targets ₹1,000 Crore Revenue from EV Components Business

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Godrej & Boyce has set an ambitious target to double its revenue from the EV motor components business to ₹1,000 crore within the next three years. This growth initiative aims to balance domestic sales with international exports, targeting a 50 per cent share from India and the remainder from global markets.

Driving Factors: Electric Vehicle (EV) Revolution and Emission Regulations

The surge in revenue is underpinned by the automotive industry’s shift towards electric motors, bolstered by stringent emission policies worldwide. This transition is expected to reshape the market dynamics significantly.

Growth Opportunities in Electric Vehicles

India anticipates a dramatic increase in EV adoption across various vehicle segments by 2030, with a projected revenue potential exceeding $100 billion. This growth presents substantial opportunities for manufacturers like Godrej & Boyce, particularly in sectors like two-wheelers, three-wheelers, and four-wheelers.

Leveraging Expertise in Precision Engineering

Godrej & Boyce plans to leverage its deep-rooted expertise in precision engineering and component manufacturing to meet the evolving demands of the EV industry. According to a company spokesperson, the firm’s proficiency extends to designing and developing motor components not only for automotive applications but also for sectors such as robotics and automation.

Strategic Positioning in the Automotive Sector

Xercsis Marker, Executive VP and Business Head of Godrej & Boyce’s motors business emphasized the company’s strategic readiness to capitalize on the automotive sector’s growth. He highlighted their in-house capabilities to surpass industry standards in quality, supported by a team of expert technical engineers.

Expansion into International Markets

Apart from targeting growth in India, Godrej & Boyce aims to broaden its footprint in the European market. This expansion strategy is expected to enhance their customer base and unlock new business opportunities.

Advanced Product Offerings

The company’s product portfolio includes a range of advanced offerings such as lamination and components like motor stator-rotor stacks, wound stators, die-cast rotors, and end shields. Additionally, they manufacture fully assembled motors tailored for actuation applications for select customers.

Commitment to Quality and Innovation

According to Marker, all products from the motors business are manufactured using cutting-edge technology, ensuring superior efficiency and durability. With the automotive sector in India poised for substantial growth, Godrej & Boyce is well-positioned to capitalize on emerging opportunities.

In conclusion, Godrej & Boyce’s strategic focus on the electric motors market, combined with its commitment to innovation and quality, positions it as a key player in the evolving automotive industry landscape. With robust growth projections both domestically and internationally, the company is poised to achieve significant milestones in the coming years