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VCGuy
Believe me, it’s not... • 1y
Last week, I had a short conversation with a friend who manufactures vehicle conveyor belts for automotive companies. 💡A few key insights: - Domestic demand for 4-wheelers is surging, evident at a micro level - Plenty of room for growth: Per capita car consumption is 33 per 1000 people, growing at 10%. Comparing this to major economies: (1). United States: 860, growing at 2% (2). UK: 632, growing at 2% (3). Germany: 627, growing at 2% (4). Japan: 612, no growth - 15% of vehicles manufactured in India are exported. Small car exports are growing rapidly to countries like Saudi Arabia, Philippines, South Africa - New Foreign EV players announced India plans but hasn't lead to anything concrete. We may see more investment from players already in the market: (1). MG Motor: Investment of $607 M to produce 300,000 EVs annually (2). BYD: Plans to invest $1 B (3). Volkswagen: Aims to electrify 30% of it's India line-up ⏭️India's automotive sector contributes 7% to the GDP, 35% to manufacturing GDP and 8% to total exports.
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