Godrej & Boyce announced that its Motor Components business aims to double its revenue to Rs 1000 crore within the next three years. The company plans to achieve this by generating 50% of its revenue from India and the remaining 50% from exports. This growth is driven by the automotive industry’s transition to electric motors and evolving emission regulations.
India’s overall EV penetration is projected to surge exponentially by 2030, driven by strong adoption across two-wheeler, three-wheeler and four-wheeler segments, presenting a revenue opportunity exceeding $100 billion for the Indian EV market. Godrej & Boyce recognizes this seismic shift towards electrification. With its deep expertise in precision engineering and component manufacturing, the business is strategically positioned to cater to the evolving needs of EV customers across different segments.
The business understands the requirements of the electric motors ecosystem, and has a demonstrated expertise in designing and developing motor components, serving industries such as robotics, automation, off-road vehicles, and actuation.
Xercsis Marker, executive vice president & business head of the Motors Business, Godrej & Boyce, said, “With the automotive sector poised for growth, we are strategically positioned to capitalize on this trend and further expand our foothold within this market. Our in-house capability to exceed normal quality standards, along with our expert technical engineers, uniquely positions us for this task. This achievement underscores our commitment to providing high-quality, precision-engineered components that meet the evolving needs of the global automotive industry. Apart from the projected growth in India, our presence in the European market will also help us expand our customer base and create new opportunities for our business.”
