“Rising Adoption of Advanced Electrical and Electronics Components”
- OEMs are increasingly integrating advanced electrical and electronic systems, such as advanced driver-assistance systems (ADAS), infotainment systems, and connectivity features, to meet consumer demand for smart and connected vehicles
- These components enhance vehicle safety, convenience, and user experience, making them a key differentiator in the competitive automotive market
- In regions with high tech adoption, such as Europe and North America, OEMs such as BMW and Volkswagen are incorporating cutting-edge electronics in their premium models
- Electric vehicles (EVs) are driving demand for specialized electrical components, including high-capacity batteries and efficient power management systems, to optimize range and performance
- For instance, Tesla integrates proprietary electrical systems in its vehicles, setting a benchmark for EV performance and innovation
- Dealerships and OEM retailers are offering upgraded electronics packages as value-added options, particularly for luxury and electric vehicle buyers
