Q3, Q4 Will See Improvement In Availability Of Semiconductors: Prashanth Doreswamy

The Indian auto sector bounced back the fastest post the pandemic. However, several concerns still continue, leading to a fresh slew of challenges. Talking at the BW Auto 40under40 Summit & Awards 2022, Prashanth Doreswamy, President & CEO of Continental India takes us through the current contours of the Indian auto industry. "The Indian auto market is the 5th largest in the world currently. Our aim is to be 3rd by 2030," he foresees. 

For him, Covid & semiconductors do stand as significant challenges, however, he is positive about a big turnaround in the coming years. "We are looking forward to an increase in content per vehicle through assistance vehicles, connected features, electrification, etc."

Also talking about the burning topic of electrification, he says, "India is a dynamic market. 50% of car sales are of hatchbacks. If you electrify hatchbacks, they will cost much higher today. Passenger cars still have a few years to see new EV models."

Doreswamy also mentions how cars are becoming more software-defined. But bringing this software into cars will require high technology. "This will require a lot of redesigning and reevaluation," he emphasises.