Electric & Hybrid Vehicles Market in India

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This Industry Docket analyzes developments in the EV/Hybrid vehicle market in India, with a deep dive into government regulations affecting the market. This study also covers the various technological challenges faced by manufactures and how they are planning to overcome those challenges.This docket could be used as a ready reckoner for manufacturers who are looking for an entry into the Indian EV/Hybrid vehicle ecosystem.

Table of Contents

Electric & Hybrid Vehicles Market in IndiaScope & LimitationsScope & LimitationsGlobal BriefChina sold twice as many EVs than the US in 2016 with 301,000 units and became the first EV market in 2015 ahead of the US … India sold just 2000 units in 2016 Optimistically, most OEMs will soon comply with emission targets with technological advancements and consumer acceptance of xEVGlobally, PHEVs are expected to lead the growth of green vehicle sales… …favorable battery prices and range will make EVs/PHEVs more attractiveAdoption of key technologies:Several western Europe countries to adopt ICE ban from 2025-30; some cities with low emission zones to ban diesel & gasoline engines based on lower Euro emission standards Over 25 models of virtually every OEM to have a 200+ mile range in the next 5 years. OEMs have a benchmark of 300+ miles to match EV performance to an ICEIncentives are higher for EVs as against PHEVs in all major countries. Additional incentives for PHEVs are expected to be phased-out faster than for EVsChina will emerge as the leader globally, with over 43.2% market share, closely followed by EuropeEVs & Hybrid Vehicles: India Market OutlookEV & HEV sales very low in comparison to key global markets; mild hybrid vehicles sales higher due to low or no price increase vs. conventional vehiclesHowever, post 2018 FHEVs are expected to gain importance due to policy changes and change in customer attitude toward greener technologiesTier I and Tier II component suppliers can also leverage their experience and technology to develop newer modelsEntry Strategies:Mild hybrid technology expected to shift to EVs & Full Hybrids due to strong support from Govt. in terms of charging infrastructure & purchase incentivesIncreased collaboration between OEMs and suppliers in the future is expected to bring much needed technologies and economies of scale A first for India: Customer reaction:Cost concerns deter manufacturers, but this seems poised to change following the introduction of incentives to boost the penetration of these vehiclesGovt. policies focus on EV technology over hybrids, achieve all-electric fleet by 2030, tax breaks to manufacturers, increased spread of charging stations for private cars & taxis etc.FAME scheme providing incentives for EV/Hybrid vehicle purchase to catalyze electrification of vehicles; to be implemented till 2020The Industry going ForwardCurrently, 500 charging stations in India, planned to be increased manifold in the coming years … supported by favorable government policiesChange in technology for battery capacity will bring reduction in battery price. Current industry size fails to render it economically viable Government is expected to boost installation of charging stations and provide incentives such as CO2 credits and building of special EV parking lotsKey Conclusions & RecommendationsHybrid technology to drive growth of “green vehicles” in India; key infrastructural and cost challenges to be addressed through combined key stakeholder effortsTargeting specific electric vehicle market segments based on economics can drive and hasten national adoptionKey Conclusions & RecommendationsAppendix: GlossaryGlossaryAnnexure: Our ServicesMaximize opportunities from existing products and markets; systematically explore new products, markets, including Inorganic OpportunitiesOur Growth Consulting CanvasLegal Disclaimer

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