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With the Push from the Indian Government towards All-electric Vehicles, the Penetration of EVs and FHEVs is Expected to Reach as High as 2 Million Vehicles by 2030
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Tightening emissions standards coupled with plaguing pollution levels have begun to shift the dynamics of the Indian automotive market. While xEV (electric and hybrid vehicles) have gained traction in developed nations internationally, they are yet to do so in the Indian market. However, projections show that in 2030 about 2 million xEVs will be sold in the country owing to increasing government initiatives and incentives, domestic OEMs’ interest towards EVs and the increasing popularity and awareness among Indian customers. However, inherent drawbacks in terms of charging infrastructure, grid management and varying (in comparison to other regions) consumer preferences in terms of product and features hinder the adoption of electric vehicles (EVs). The aim of this study is to research, analyse and forecast the trends; provide an overview of the EV and Hybrid vehicles market; and discuss the impact of these trends on the growth and performance of key OEMs. This study mainly focusses on the Indian passenger vehicle (PV) market. Over 10 electric and 4 main hybrid vehicle models are expected to hit the Indian market before 2025. Mahindra will have high focus on EVs, while Japanese OEMs such as Nissan, Honda and Toyota are expected to focus on FHEVs in 2023. 48v mild hybrids are expected to be a go-to solution for manufacturers to comply with regulations. As the Indian government has announced a ban of decade old diesel cars and is expected to introduce laws favouring EVs, this is an opportune time for global brands to introduce their EV/HEV models in India as a strategic move to arrest falling sales. Start-ups, with distinctive product features that also resonate with the cultural ethos, could look at gaining a definitive edge in this competitive market.This study analyses various OEMs and Suppliers and their product strategy. It also estimates growth prospects and development of the charging network, and presents a funding analysis as well.
Objectives of the Study
Key Issues Addressed
Author: Prajyot Sathe
Global Electric Vehicle Charging Outlook, 2021
ASEAN Hybrid and Electric Vehicle Growth Opportunities
Fuel Cell—Hydrogen Policy and Regulations by Key Countries
Theme 0: Steps Needed for Electrification to Take off in South East Asia—Voice of Industry Thought Leaders
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Global Electric Vehicle Outlook 2021
Global Powertrain Outlook 2021
Indian Electric Vehicle (EV) Growth Opportunities
Digitization Powers the Indian Passenger Vehicle Industry, Outlook 2021
Profiles of Key Electric Vehicle (EV) Manufacturers Making an Impact on the Indian Market
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