Demand for Battery Electric Vehicles (BEVs) and Hybrid Electric Vehicles (HEVs) is gradually growing in the Indian automotive market. In 2023, BEVs accounted for 2.3% and HEVs for 2% of total passenger vehicle sales. Several buyers prefer hybrid vehicles as an intermediate step before transitioning to fully electric vehicles, and proof of it lies in the sales figures of popular hybrid models like the Maruti Suzuki Grand Vitara, Toyota Innova Hycross, Toyota Urban Cruiser Hyryder, Maruti Suzuki Invicto, and Honda City Hybrid.
Suzuki, the parent company of Maruti Suzuki, is known to be developing cost-effective hybrid technology for the Indian market. This new hybrid technology is expected to be introduced across Maruti Suzuki’s mass-market models, including the Fronx, Baleno, Swift, and Brezza. Hyundai Motor India, a new entrant in the hybrid vehicle sector, is reportedly planning to introduce hybrid powertrains as part of its electrified future strategy over the next three years. This information comes from Euisun Chung, the Executive Chairman of Hyundai Motor Group.
Hyundai’s decision to continue selling diesel models post-BS6 Phase II, and post-2027, would require significant investment to meet future emission standards. Switching to hybrid technology for mid-size vehicles will be a sensible move that will help the company stay competitive in this segment. The company might considering introducing hybrid versions of its popular models such as the Creta SUV, Alcazar, Tucson, and Verna sedan.
In other updates, Hyundai is set to launch the Creta EV in early 2025, with mass production scheduled to begin in December 2024. The electric SUV is likely to get the 45kWh battery pack and an electric motor, borrowed from the global-spec Kona EV. Its electric range is likely to be around 400-450km. The South Korean automaker also plans to target the mass-market EV segment with the Exter EV, which is currently in its initial testing phase.
