Godrej & Boyce is aiming to double its revenue from the motor components business to ₹1,000 crore in three years, with 50 per cent coming from India and the remaining exports.

This growth is driven by the transition of the automotive industry towards electric motors as well as the regulations in emission policies.

India’s overall EV penetration is projected to surge exponentially by 2030, driven by strong adoption across two-wheeler, three-wheeler and four-wheeler segments, a revenue opportunity exceeding $100 billion.

Godrej & Boyce is banking on its expertise in precision engineering and component manufacturing to cater to the evolving needs of EV customers across different segments, said a company spokesperson.

The company has a strong understanding of the demands of the electric motors industry and has the expertise in designing and developing motor components for industries such as robotics and automation.

Xercsis Marker, executive VP and business head of the motors business, Godrej & Boyce, said: “With the automotive sector poised for growth, we are strategically positioned to capitalise on this trend and further expand our foothold within this market.

“Our in-house capability to exceed normal quality standards, along with our expert technical engineers, uniquely positions us for this task. Apart from the projected growth in India, our presence in the European market will also help us expand our customer base and create new opportunities for our business.”

The business supplies lamination and components — motor stator-rotor stacks, wound stators, die-cast rotors and end-shields — and also produces complete assembled motors for actuation applications for some customers.

Products by the motors business have been manufactured using the latest technology and have been specially designed to provide high levels of efficiency and durability, said Marker. With India poised for growth in the automotive sector, Godrej & Boyce aims to capitalise on this trend.