A global supplier of automotive electronics and precision engineered components, Pricol Ltd. participated in the 2018 edition of Auto Expo (Components) with whole new energy and expectations. As a regular exhibitor in every edition of the event, the company showcased new product lines and technology this year in the areas of driver information systems, sensors, telematics and connected systems, fuel pump modules, electrical water pumps and other electrical aggregates.
“Auto Expo is a strong platform for suppliers like us to exhibit our latest product lines and technological capabilities to OEMs and aftermarket clients”, observes Mr. Amit Dakshini, Chief Strategy Officer, Pricol Ltd. “The company has entered into new partnerships and JV to develop new products of futuristic importance, most of which were presented at the show. The products showcased included advanced park assist systems, oxygen sensors, TFT clusters, fuel pump modules, telematics solutions, wiping systems, electrical water pumps, fuel level sensors, automated lubrication system, sintered components and high pressure die casted parts, etc.
The Coimbatore-based Pricol caters to a wide range of vehicles in two-wheelers, three-wheelers, passenger cars and commercial vehicles, apart from products related to fleet management and sintered components. “Our product diversity across vehicle segments is our biggest strength”, says Mr. Dakshini when asked about the growing relevance of EVs in India.
“Pricol’s product lines and business strategy is agnostic to electrification of vehicles, as most of our products like electronic instrumentation, wipers, sensors, telematics, etc., are essential components that EVs can’t ignore. Although some die-cast engine and mechanical components may go away, that is way too far from now and their volumes are miniscule”, he explains.
Pricol is poised to grow at minimum 20 per cent over the next 3-4 years with the new products adding to the growth of the business. The other products that the company is going to take up vibrantly in the upcoming years addressing the BS VI norms and upcoming safety regulations are fuel pump modules, park assist systems, oxygen sensors, telematics solutions and electric water pumps.
Asked about the transformation of electronics that goes into the vehicles, Mr. Amit Dakshini replies that connected technologies are fast catching up in a big way. Therefore, not just electronics, but connected networking with IoT is going to transform the entire engineering of automobiles, including heavy-vehicles. He pointed at the growing acceptance of advanced LiveLink telematics solution, jointly developed by Pricol and JCB, in the domestic market to drive his point.
Almost 90 per cent of Pricol’s business stems from direct OEM supply. Yet, the share of aftermarket business is growing at a steady pace as per the set targets every year, he adds. “We have a properly devised strategy for both the OEM and aftermarket, and we strive to achieve a proportion that is sustainable to the overall development of the company”, Mr. Dakshini observes.