ELECTRIC VEHICLE RELAY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In August 2023, the Ministry of Road Transport and Highways in India, led by Union Minister Nitin Gadkari, launched the Bharat New Car Assessment Programme (Bharat NCAP). This initiative represents a crucial advancement in the government's efforts to enhance road safety by elevating the safety standards for motor vehicles weighing up to 3.5 tons in India. Bharat NCAP aims to provide consumers with a comparative tool for assessing the crash safety of vehicles, thereby fostering a market for safer cars in the country.
• In July 2023, MG Motor India, a subsidiary of the U.K.-based automotive company, MG Motor, launched a new variant of its ZS electric vehicle. This updated model features advanced Autonomous Level-2 technology, which operates at low, medium, and high sensitivity levels, accompanied by haptic, audio, and visual warning systems. The vehicle's Advanced Driver Assistance Systems (ADAS) package includes key features such as Traffic Jam Assist (TJA), Forward Collision Warning (FCW), and Speed Assist System (SAS), enhancing both safety and driving convenience.
• In April 2023, Fujitsu Components, a leading manufacturer of electronic components, announced the launch of the FTR-G3 relay. This new relay is the smallest 30A relay in its class, measuring just 6.6 x 13.7 x 14.0 mm and weighing approximately 4.0 gr. The FTR-G3 is a plastic-sealed relay that is ideal for use in tight spaces, particularly in automotive applications.
• In May 2022, Texas Instruments (TI), a prominent semiconductor company, unveiled a new portfolio of solid-state relays designed to enhance reliability in automotive applications. The company claims these relays are the smallest available on the market, aimed at reducing costs for powertrain and 800-volt battery management systems for vehicle manufacturers. This innovation reflects TI's commitment to advancing technology in the electric vehicle sector while improving safety and efficiency.