Hybrids complement EVs to drive diverse powertrain demand: Study
Times of India | 24 May 2025
12 Kolkata: An HSBC Global Research on the Indian automobile market revealed that demand for multiple powertrains will persist in the country over the medium and long term. At present, the powertrain mix in India is petrol 65%, diesel 18%, CNG 12%, hybrid 2% and EV 2%.According to the study, hybrids in India can take up the share of diesel and reach 18-20%, similar to Europe, where the share of diesel declined from 51.6% in 2015 to 9.5% at present, while that of hybrids increased from 1.6% to 35.5% over these 10 years.The study further pointed out that, contrary to popular assumptions, hybrids are not competing with EVs now but are rather complementary to them. In states with hybrid incentives, EVs have grown more even after incentives were announced. Battery electric vehicle (BEV) sales in Rajasthan increased by 150% since the introduction of strong hybrid electric vehicles (SHEV), 134% in Haryana, 47% in UP, 61% in Chhattisgarh and 20% in Chandigarh."This trend suggests that SHEV adoption is having a positive effect on BEV sales. SHEVs are not cannibalising each other but, rather, are attracting different sets of customers," the HSBC report stated. In India, Toyota, Maruti Suzuki, Honda, MG, Mercedes-Benz, Volvo, and Lexus offer strong hybrid vehicles along with petrol powertrains. Mahindra and Tata are also exploring hybrid options.While the focus was on the growth of EV sales in recent years, hybrid vehicles, including strong hybrids and plug-in hybrids, witnessed even faster growth, not just in India but in other markets, including China, Japan, Korea, the UK, France, and the US.Get the latest lifestyle updates on Times of India, along with Brother's Day wishes, messages and quotes !