French auto parts supplier Valeo bets on India EV transition even as demand cools
Live MintNew Delhi: Growing adoption of electric vehicles in India is unlocking opportunities for the Indian arm of French auto parts supplier Valeo to increase revenue per vehicle, according to a top company executive, even if sales have temporarily slowed for one of its top customers in India. For instance, we supply Tata with onboard chargers and DC-DC converters, while Mahindra sources e-axles from us," Jayakumar G., group president and managing director of Valeo India, told Mint. “The GST and road tax benefits, along with incentives like the PLI scheme, are helping bridge the price gap between EVs and ICE vehicles." The growth may be slower, and then there’ll be a tapering off," Jayakumar said, adding, “At Valeo, we continue to invest in ICE technologies as well."