India’s Rane Group readies to face EV challenges; Diecast aluminium div. set to thrive

India's leading auto component part manufacturer with a strong aluminium die-casting product portfolio Rane Group is readying to enter the era of disruption that electric vehicles are about to usher in globally.

The Chennai based group is working on a two-pronged strategy to deal with the consequences that electrification might have on passenger car segment, while not affective overall business over the next three to five years.

It is almost a given now that electric vehicles will largely take over the entire automobile industry in India and globally, but 'when' - is still a little unclear.

L Ganesh, Chairman, Rane Group said, “Even our overseas customers are not sure at what pace it can come. But we are very aware that this could be a disruptive technology change and we could be surprised much faster than what people think."

The group is focusing on enriching its knowledge base, in the first place. In a bid to learn more about the latest EV technologies, products and aggregates, Rane Group is forging quality tie-ups with global technology companies. Plus, it is also evaluating the strategy it would need to follow in Rane Engine Valves business.

“Because, it is one product which will directly get impacted if there is a switch to electric vehicles – from petroleum to electric engines,” Ganesh explained.

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One portfolio of Rane Group that is going to witness increased business with the emergence of electric vehicles is Rane Diecast, the producer of high pressure aluminium die castings for automotive applications such as steering and HVAC, amongst other non- automotive applications. Use of aluminium in vehicles is known to reduce their body weight significantly while making them speedier and more sustainable, a key characteristic of electric vehicles.