Three years ago, Pavan Puri was selling automotive accessories to Maruti and Toyota. Today, his company supplies AI-driven camera systems to Tata Motors and Ashok Leyland with 99 percent repeat orders.
Greencore Electronics is a three-year-old manufacturer of connected automotive electronics that has already outgrown the startup label. Founded by Pavan Puri and his wife Prerna, the company builds audio systems, reverse cameras, USB ports, parking sensors, AI‑based ADAS components, and puncture repair kits from a 27,000 sq. ft. factory in Manesar.
Accessories, where Greencore began, now account for only 18 per cent of the revenue. Audio systems and connected infotainment contribute 40 per cent. The remaining 40 to 42 per cent comes from smart electronics including reverse cameras, USB charging ports, parking sensors, and AI-based camera systems.
Puri said commercial vehicles are currently the largest contributor to revenue, ahead of passenger vehicles. Construction equipment has also grown quickly due to infrastructure spending, with companies like JCB and Escorts Kubota driving demand.
According to Pavan Puri, the company operates only in OEM supply and does not sell in the aftermarket. Once a product is validated and enters an OEM’s Bill of Materials, orders become automatic. Every time that vehicle model is produced, a purchase order follows. Product lifecycles typically run four to five years. He estimates repeat business at 99 per cent.
Greencore has 110 employees, including 12 R&D engineers and 14 quality engineers, and runs six assembly lines in Manesar. It supplies directly to Tata Motors, Ashok Leyland, Escorts Kubota, JCB, Mahindra, Skoda, Volkswagen, and Maruti Suzuki.
“We were a startup three years ago, but now we are on a path to become a full-fledged electronic manufacturer; I would safely say within the next one or two years maximum”.
Its manufacturing model relies on partnerships with companies from Korea, Taiwan, and China. These partners supply AI algorithms and software. Greencore assembles the hardware in India, conducts validation and testing locally, and then supplies to OEMs.
“The beauty of our products is that we can supply to EVs, CNG, petrol, diesel, and soon hybrids,” Puri said. “The segment we are working on caters to every single fuel type.”
What’s causing friction?
The challenge lies in adapting global systems to Indian conditions. Poor lane markings, unpredictable traffic, and mixed road usage reduce the effectiveness of ADAS systems.
“Lanes are not painted very well. If there are no lanes marked, how will the system keep you in the lane?” Puri said.
Company tests each product through six months to a year of validation, including road testing, EMI and EMC checks, and stress testing.
One product where the company owns the technology is a puncture repair kit. The inflator design is patented and manufactured in India, while the sealant is imported. The kit is supplied as an OEM product across EV and ICE platforms.
The biggest bottleneck is supply chain. Puri said finding high-quality suppliers in North India who can deliver automotive-grade components at mid-scale volumes remains a challenge.
Most of Greencore’s suppliers are from North India, while two are from the south. This is because Puri wants to focus on faster supplies, making it logistically better.
Company is also finding high quality component suppliers in North India who accept medium sized volumes and still deliver automotive grade reliability.
The company is expecting new developments in ADAS and connected systems in the coming months, which may require expansion of its manufacturing capacity.
He also revealed that the company expects two or three significant breakthroughs in connected and ADAS segments within the next two to three months. If those materialise, they will require new assembly lines. The factory already has empty floors ready for expansion.
On funding, Puri is open but not desperate. “We will look at options instead of IPO. We can look at funding options. Why not? When the time is right.”
Puri’s closing line was simple. “Indian automotive segment is undergoing a vast change for the better with more and more use of electronics. We should just embrace it and use it to improve the overall ecosystem.“
It is a good balance sheet for a company that started three years ago selling accessories.
