Hindalco looks to take 'direct' route to rev up auto parts biz

Hindalco Industries, part of the Aditya Birla Group and the world's largest aluminium rolling and recycling firm, is increasing its focus on the EV auto component sector. Their $6.1 billion capex plan, initiated in 2022, includes a $735 million expansion to add 260 kilotonnes to downstream capacity by FY27. Aiming to directly supply auto manufacturers with precision parts, Hindalco enhances margins beyond material supply. Initiatives include Chakan facilities for battery enclosures and Tata Ace EVs bodies. It forms downstream units for sectors like packaging and construction, noting low aluminium usage as growth potential. Hindalco also emphasizes a personal mobility segment for EVs.