Indian auto parts supplier Varroc Engineering to focus on EVs for growth
In an evident attempt to achieve higher growth in the coming years, Indian auto parts supplier Varroc Engineering plans to focus on electric-vehicle (EV) technology and on the Bharat Stage-VI (BS-VI) emission control norms which are likely to come into force in 2020.
In accordance with its EV-focused growth strategy, Aurangabad-based Varroc Engineering plans to make notable investments in electric bikes and power-trains. Moreover, the company will also be investing in technologies on emission reduction and light-weighting, in an effort to ensure a higher than market growth.
Furthermore, Varroc Engineering’s growth-centric plans for the next few years also include the development of catalytic converter technology, along the lines of the BS-VI emission control standards.
About Varroc Engineering’s strategy for achieving growth, Managing Director Tarang Jain said that the moves planned by the company will enable it to achieve “300 percent content growth in the two-wheeler segment and boost sales.” The term ‘content growth’ refers to a situation in which the company would be able to command greater premium for auto components as a result of upgraded technology.
Jain said that Varroc Engineering is “well positioned for good growth,” and added: “...going forward we will have a role in the electric bike segment.”
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