Why hybrids may fail to take off in India's evolving automobile market

A new report says EVs and CNG vehicles will outpace hybrids by far

The global automotive industry is witnessing a shift towards hybrid electric vehicles, which has led to expectations that a similar trend could play out in India as well. It might not.

 

Analysts believe electric vehicles (EVs) will be 18 per cent of the market in India by 2029-30 (FY30), up from a mere 2.4 per cent in FY24, and vehicles running on compressed natural gas, or CNG, will have doubled their share of the market to 30 per cent by that time. Hybrids, on the other hand, will be only 4.1 per cent of the market, having grown not all