At the Bharat Mobility Show, we observed a significant focus on EVs and clean fuels among OEMs, both in the two-wheeler and passenger vehicle segments, as manufacturers work to meet the upcoming CAFÉ regulations.
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Motilal Oswal Report
At the Bharat Mobility Show, there was a strong focus on electric vehicles and clean fuels among original equipment manufacturers, both in the two-wheelers and passenger vehicles segments, as manufacturers work toward meeting the upcoming CAFÉ regulations.
We expect the EV transition in PVs to gain momentum in the coming years, particularly with two large PV OEMs, Maruti Suzuki India Ltd. and Hyundai, launching their own sub-Rs 2 million EVs. This segment is likely to experience strong competition from BYD and Vinfast, as both global EV giants aim to establish presence in the fast-growing Indian EV market.
Similarly, in the two-wheeler sector, the launch of EV scooters in India by Japanese peers, Honda Motorcycle and Scooter India Pvt. Ltd. and Suzuki, will further help boost the EV transition in two-wheelers. Among auto OEMs, our top picks are Maruti Suzuki, Hyundai, and M&M, while we like Endurance, Samvardhana Motherson International, and Happy Forgings in auto ancillaries.
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