While the two-wheeler segment has seen significant growth, Tata AutoComp holds a relatively smaller market share in this category.New Delhi: Auto component major Tata AutoComp has invested over INR 100 crore for a new project focused on the local manufacturing of Low-Voltage Differential Signaling (LVDS) cameras for the Indian market. With this, it also aims to capitalize on the first-mover advantage, becoming the first Indian supplier in this segment.
“Currently all these cameras are imported. There is no local manufacturing, we are the first ones to do it in India,” Arvind Goel, Vice Chairman, Tata AutoComp told ETAuto.
These cameras, being produced for the India market, will roll out in Q1 FY25. The installed production capacity is projected to be around 3 million to 3.5 million units per annum.
Goel added that the cameras could also be considered for export if required, leveraging the company’s joint venture partnership with Ficosa.
The Tata-Ficosa is currently a INR 700-800 crore business.
EV Chargers
The Tata Group-backed company is also developing premium AC home chargers designed especially for Jaguar Land Rover (JLR) vehicles worldwide. For this, it has partnered with Tata Technologies.
This project, which has been in development for about one and a half years, is expected to be commercialized within the next three months. The software for these chargers will be customized to meet the specific requirements of each region globally.
“There are a lot of opportunities to take help within the Tata Group,” Goel said.
Tata AutoComp has also partnered with TCS to design a 3-in-1 onboard charger and DC-DC converter. “For fast chargers, we may look at a tie-up in future, but as of today we are developing 3-in-1 onboard chargers,” he added.
Outlook
Goel shared his optimism on the industry and said in the upcoming year, Tata AutoComp anticipates achieving growth at a rate of “at least three times the industry’s percentage growth.”
However, he noted that the overall industry has witnessed modest growth, particularly in the commercial and passenger vehicle segments, though he remains positive about the tractor sector.
While the two-wheeler segment has seen significant growth, Tata AutoComp holds a relatively smaller market share in this category.
As the industry transitions towards electrification, Goel acknowledged that some of their businesses, such as exhaust systems (a joint venture with Katcon) and lead-acid batteries, are focused exclusively on the ICE segment. However, he emphasized that this is not considered a high-risk area, as the ICE industry is expected to remain relevant for a long time.
He also highlighted a growing demand for auxiliary lead-acid batteries, which are increasingly being used in EVs.
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