Bengaluru-based SEG Automotive charts a bold future, aiming to double its revenue and lead both ICE and electric vehicle markets through innovation and strategic growth.
09 Jan 2025 | 4728 Views | By Shahkar Abidi
Bengaluru-based , SEG Automotive is carving out an ambitious roadmap. The company, a spinoff of Bosch's Starter Motors & Generators division, has already doubled its revenue to over Rs 2,130 crore in FY24—a remarkable feat for a firm navigating the ever-evolving landscape of the automotive industry. But SEG isn’t slowing ...
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Bengaluru-based , SEG Automotive is carving out an ambitious roadmap. The company, a spinoff of Bosch's Starter Motors & Generators division, has already doubled its revenue to over Rs 2,130 crore in FY24—a remarkable feat for a firm navigating the ever-evolving landscape of the automotive industry. But SEG isn’t slowing down. With eyes firmly set on the future, the company now plans to cross Rs 4,000 crore in revenue within the next three to five years, according to its Managing Director, Anil Kumar MR.
This aspiration aligns seamlessly with the global objectives of SEG Automotive's Germany-based parent group, which aims to double its sales to over €3 billion. The group, which recorded a turnover of €1.74 billion in 2023, is banking on innovation and agility to stay ahead of industry transitions.
“Similar to the global vision, we are also in India further doubling our turnover, more than doubling our turnover in the next three to five years,” Kumar shared with Autocar Professional. “With the portfolio that we're having today, we should catch up even faster,” he added confidently.
Founded on more than a century of automotive innovation, SEG Automotive is no stranger to reinvention. From pioneering the starter motor to championing technologies like Start/Stop systems, mild hybridization, and flexible solutions for e-drives, the company has long been at the forefront of automotive engineering. Today, its products power over 300 million vehicles globally, serving nearly every major automotive OEM.
Operating in 14 countries with a workforce of 6,000, the group remains focused on maintaining its legacy even as it pivots toward electrification. Its efforts include aggressively expanding into the light electric vehicle segment while simultaneously supporting internal combustion engine (ICE) manufacturers. SEG’s approach is not merely transitional—it aims to dominate the legacy ICE market while embracing the electric future. “Last man standing” is the mantra driving the company through the tectonic shift in the automotive industry.