Introduction
In the realm of automotive innovation, every component plays a pivotal role in shaping the driving experience. From the intricate gears to the robust bearings, each part contributes to the seamless operation of vehicles, especially in the era of electric mobility. In this transformative landscape, Tesla, the trailblazer in electric vehicles (EVs), has sought out the expertise of 7 Indian companies to bolster its supply chain for auto components.
Background:
In March 2024, the Indian government implemented a significant reduction in import duties on electric vehicles (EVs).
The move aims to bolster the Make in India Initiative and provide Indian consumers with access to cutting-edge technology.
The import duty on EVs was previously between 70-100%, but it’s now slashed to 15% for five years.
This move aims to attract foreign automakers, especially Tesla, to set up manufacturing in India. The objective is to boost EV adoption nationwide.
Under the new policy, companies can import up to 40,000 electric vehicles annually at a reduced tax rate.
To qualify, companies must invest at least Rs 4,150 crore or $500 million in India within three years. Additionally, they must comply with specific localization requirements.
Let’s delve into the seven Indian stalwarts that are driving Tesla’s auto revolution forward:
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1. Sandhar Technologies Limited:
Specializing in an array of automotive components, Sandhar Technologies stands tall in the league of premier suppliers. Sandhar Technologies serves a distinguished clientele worldwide. The company provides essential components for the Tesla Model 3’s wiper system assembly. This collaboration highlights Sandhar’s prowess in the automotive industry. It solidifies the company’s position as a key player in Tesla’s supply chain.
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2. Sundram Fasteners Ltd:
As a subsidiary of the esteemed TVS Group, Sundram Fasteners boasts expertise in manufacturing critical components essential for various vehicles. Their collaboration with Tesla encompasses the supply of gear transmission components and radiator caps, showcasing Sundram Fasteners’ commitment to precision and reliability.
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3. Suprajit Engineering Ltd:
Renowned as one of the largest suppliers of mechanical cables, Suprajit Engineering has made significant strides by providing components for Tesla’s wiper system assembly. This partnership underscores Suprajit Engineering’s dedication to innovation and excellence in the automotive sector.
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4. Varroc Engineering Ltd:
With a diverse portfolio ranging from exterior lighting systems to precision metallic components, Varroc Engineering has emerged as a frontrunner in the automotive industry. Their collaboration with Tesla to supply lighting systems for the Model S and Model X underscores Varroc Engineering’s technological prowess and commitment to sustainable mobility solutions.
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5. SKF India Ltd:
As a prominent provider of bearings and lubrication systems, SKF India plays a crucial role in Tesla’s electric vehicles. By supplying bearings for electric motors and gearboxes, SKF India epitomizes reliability and efficiency, essential qualities in the rapidly evolving automotive landscape.
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6. Bharat Forge Ltd:
Renowned for its expertise in forging and machining, Bharat Forge has carved a niche for itself in the automotive and industrial sectors. Their collaboration with Tesla underscores Bharat Forge’s commitment to delivering high-quality components, essential for the seamless operation of vehicles.
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7. Sona BLW Precision Forgings Ltd:
Specializing in precision-engineered automotive systems and components, Sona BLW Precision Forgings has established itself as a trusted partner for Tesla. Their supply of forged parts for suspension systems underscores Sona BLW’s dedication to innovation and technological advancement.
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Conclusion
These seven Indian companies exemplify the spirit of collaboration and innovation driving Tesla’s auto revolution forward.
They leverage their expertise and commitment to excellence. They play a pivotal role in shaping the future of mobility.
Tesla continues to push the boundaries of innovation. These companies are poised to meet the evolving needs of the automotive industry.
They drive sustainable and efficient solutions for the roads ahead.
