The world over, the automobile industry is undergoing a virtual transformation with a major shift to electrification of vehicles. The emerging scenario poses several challenges for the component manufacturers who are currently meeting the demand of vehicles which are run on traditional fuels such as petrol and diesel. Anticipating the change in technology, Lucas-TVS Ltd., India’s leading manufacturer of auto electricals, is gearing up by developing products which can meet the requirement of electro-mobility. It has already developed the electro-magnetic technology with module controller for electric vehicles.
This was stated by Mr. Arvind Balaji, Jt. Managing Director, Lucas-TVS Ltd., while delivering his keynote address at the 16th MMA Awards Function held in Chennai on July 14.
He said that traditionally the IC engine technology has been maintained all over and, with growing electrification, the auto sector will definitely face several challenges. The latest reports say that there will be more electric vehicles plying on Indian roads by 2030 and only large OEMs can provide a safe solution.
He referred to a similar technology change witnessed over the last 20 years in other fields, including IT, with the interplay of Google vs. Yahoo and Amazon vs. Rest. Equally significant are the three major headwinds faced by the automotive industry, such as ride sharing (example Uber), driverless and connected vehicles and electrification. In order to face these challenges arising out of the shift to new technology, it is absolutely essential to focus on various key factors like embracing change, building competency, agile culture, seeking opportunities and paranoid.
Outlining the growth strategy of Lucas-TVS, part of TVS Group, established in 1961, Mr. Arvind Balaji observed that the company fully believed in investing on its own talent for development of world-class products. This has made the company a technology leader in auto electricals and thus emerge a very much part of the ‘Make in India’ initiative of the Government. In 1990, the company adopted TQM practices and won several quality Awards. Through its vast distribution network, it serves more than 30,000 mechanics all over India. There is no vehicle produced in India without using Lucas-TVS products. This is the best testimony to the company’s sharpened focus on product quality.
Mr. Arvind Balaji has been very actively involved in the growth and development of the Indian auto component sector and has played a pivotal role in bettering the prospects of the industry. He has also been actively involved in the activities of various associations, including ACMA.