Mudlapur, the MD of Bosch Limited and President of the Bosch Group in India, expects the upcoming corporate average fuel economy (CAFE) norms to increase the rate of electrification in India, as the country moves towards a more stringent norm. Currently, electric vehicles account for only 2% of the market in India. However, Mudlapur notes that this will change as norms become tighter, following the trend seen in Western countries where electric vehicles have become more prevalent. He expects a shift towards more electrification, software-defined vehicles, and advanced driver assistance systems (ADAS).
Mudlapur draws a parallel between automotive trends and mobile phone upgrades, highlighting the potential for software-defined vehicles to be upgraded regularly with new features and capabilities. This concept involves using advanced computing power to enhance the car’s features and capabilities over time. While traditional gasoline and internal combustion engine (ICE) vehicles will still exist, Mudlapur anticipates a significant shift towards electric and software-defined vehicles.
In the October-December quarter of FY25, Bosch reported a 6.2% increase in revenue from operations, driven primarily by the growth in service income from developing automotive components for major original equipment manufacturers (OEMs). Overall, the trend is expected to be shaped by factors such as personalization, electrification, and technological advancements, with software-defined vehicles playing a key role in the future of the Indian automotive industry.