EV adoption to disrupt automobile industry in a decade, says report

Indians likely to prefer electric two- and three-wheelers than bigger vehicles

The transition to electric vehicles (EVs) could dent the bill of materials (BoM) of  component makers of internal combustion engine (ICE) by up to 50 per cent. This is according to the early estimates highlighted in a joint report by Auto Component Manufacturers Association (ACMA) and McKinsey released on Wednesday.  

BoM is a list of the raw materials, sub-assemblies, intermediate assemblies, sub-components, parts, and the quantities of each needed to manufacture an end product.  

While there is cause for optimism, the push for clean mobility and corresponding growth in the adoption of electric vehicles (EVs) could disrupt the automotive landscape over the