Government wants to encourage manufacturing and selling of alternative fuel-based vehicles.
India's electric two-wheeler (e2W) manufacturers have urged the government to extend subsidies under the PM E-Drive (Electric Drive Revolution in Innovative Vehicle Enhancement) scheme beyond March 2026, cautioning that a withdrawal could slow near-term demand even as confidence in long-term electric mobility adoption remains intact.
Grant Thornton Bharat's latest survey indicates that hybrids are set to consolidate market share this festive season, bridging the gap between conventional petrol engines and the emerging electric vehicle segment.
In the e2W category, which accounts for more than 60 per cent of total EV sales, volumes fell 15 per cent to 118,944 units in November, compared to 139,787 units in the previous month
EV manufacturers point out that converting a regular petrol car into a flex-fuel vehicle requires only about Rs 17,000-25,000 per unit, whereas developing an EV demands vastly greater investments in research, battery development, and localisation.
'Now that all the early adopters have the electric car, governments are backing down in some countries because they do not have the money to subsidise so much.'
Joint crack team of Maruti, Tata Motors, M&M to develop hybrid cars in India
JSW MG Motor India will launch four new models this year, and is planning to invest between 3,000 crore-4,000 crore in the country over the next couple of years. The new models include a plug-in hybrid, an electric vehicle, the Majestor SUV and one additional model yet to be disclosed.
French automotive component maker Valeo on Wednesday said it will invest over Rs 2,150 crore in India and treble its annual sales in the country to around Rs 7,510 crore by 2028.
The national budget 2019-20 had an outlay of Rs 10,000 crore for Phase-II of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles scheme to boost electric mobility and increase the number of EVs in commercial fleets.
India's flagship motor show Auto Expo 2023 kicked off on Wednesday with the global unveiling of Suzuki Motor Corporation's concept electric SUV 'eVX' which is slated to hit the market by 2025. The company's Indian arm Maruti Suzuki India is among the major manufacturers participating in the show that has returned after three years. The Concept eVX is a mid-size electric SUV concept designed and developed by Suzuki Motor Corporation (SMC), Japan. It will be powered by a 60 kWh battery pack offering up to 550 km of driving range on single charge.
Arun Jaitley presented the Budget in Parliament on Saturday.
At a time when consumers increasingly embrace green mobility solutions, it is not electric cars but hybrids that are taking the lead, as automotive sales data indicate. Since January, 64,097 electric cars have been sold compared to 266,465 hybrids, according to data from the ministry of road transport and highways' Vahan dashboard. Hybrid car sales have surged from 4.42 per cent of the 4.1 million cars sold in calendar year 2022 to 7.2 per cent this year.
Maruti Suzuki will introduce eight SUVs over the next five years taking its overall model range to 28 as it aims to regain 50 per cent market share in the domestic passenger vehicle segment, Suzuki Motor Corporation Representative Director and President Toshihiro Suzuki said on Wednesday.
Investors and startup executives are calling for extending the period for an entity to be recognised as a startup from 10 to 15 years for deep-tech companies.
At a time when consumers increasingly embrace green mobility solutions, it is not electric cars but hybrids that are taking the lead, as automotive sales data indicate. Since January, 64,097 electric cars have been sold compared to 266,465 hybrids, according to data from the Ministry of Road Transport and Highways' Vahan dashboard. Hybrid car sales have surged from 4.42 per cent of the 4.1 million cars sold in calendar year 2022 to 7.2 per cent this year.
A series of flip-flop on policies and a non-existent charging infrastructure are the biggest challenge in achieving the target of selling 6-7 million hybrid and electric vehicles by 2020.
A day before US President Donald Trump's additional 25 per cent tariff kicks in, Prime Minister Narendra Modi on Tuesday made a vehement pitch for swadeshi and Make in India that should help create jobs in the country.
Despite the benefits of hybrid technology, a lack of government backing and few launches have kept the segment from gaining ground.
Japanese automaker Suzuki Motor Corporation will invest Rs 70,000 crore in the next five to six years in India to strengthen its operations in the country, its representative director and president Toshihiro Suzuki said on Tuesday. Prime Minister Narendra Modi on Tuesday kicked off exports of Maruti Suzuki India's first electric vehicle e VITARA to 100 countries and also inaugurated the production of lithium-ion battery cells for strong hybrid electric vehicles at its facility in Gujarat.
New Delhi's timing couldn't have been worse, both for India's fledgling electric vehicle (EV) sector and prospective electric bike buyers. It was hard to miss the perfect storm brewing for India's EV industry since early 2022. On one hand, you had several accidents involving battery fires that unnerved consumers; on the other, uncertainty had crept in over subsidies.
Future strategy will not just revolve around EVs: Maruti Suzuki's Ayukawa. Maruti Suzuki's MD&CEO says electric vehicles cannot be a solution outside the cities.
Maruti will showcase its first concept electric vehicle, the e-SURVIVOR; M&M it's six new EVs, including two futuristic concepts
Maruti Suzuki's e-Vitara marks its high-stakes EV debut with strong export ambitions, lifting its stock even as analysts caution over pricing and fierce competition.
Ministries such as road transport and heavy industries are learnt to have objected to NITI Aayog's attempts to become an implementing body for the EV programme.
German Car maker Audi plans to offer cars that can do 400 km on a single charge, says Ajay Modi.
With Budget concessions in place to propel the Indian automobile industry on a green drive, manufacturers are planning electric and hybrid variants of cars and two-wheelers.
Electric vehicle (EV) manufacturers breathed a sigh of relief after the GST Council on Wednesday night retained the concessional 5 per cent rate on EVs, though they now face competition from small petrol and diesel cars, which will attract a lower 18 per cent levy.
The investment will be made through a joint venture with Toshiba and Denso. The battery is the most expensive single part of an EV.
Prime Minister Narendra Modi on Tuesday announced the signing of the India-EU Free Trade Agreement (FTA), saying it accounts for 25 per cent of global GDP and one-third of global trade.
Japanese auto major Honda considers India a key market for its future growth alongside the US and Japan, according to Honda Cars India President and CEO Takashi Nakajima. The Tokyo-headquartered automaker, which operates in India through a wholly owned subsidiary, plans to drive in more SUVs in the country, as the segment continues to see robust sales across varied price points.
The move offers flexibility in compliance but also places penalties squarely on the designated manager of such a pool.
'In terms of incentives, if you think about it, hybrids are a 20-year-old technology.'
Maruti Suzuki, India's largest producer of small cars, stands to benefit the most.
'The reported deal between the European Union and China should mitigate it (shortage) for the medium to long term. Let's wait and watch how this plays out.'
Brokerages expect the company to continue outperforming in the auto segment, driven by launches and the strong trajectory of healthy bookings.
For UK automakers, market access to India will be limited by quantity caps and phased tariff cuts, especially on petrol, diesel and electric vehicles.
Lining up its 2030 strategy, Hyundai said it was targeting up to 30 per cent export contribution and over 1.5-fold rise in revenue, to cross the 1 trillion milestone in five years.
Between January and August 2025, over 65,000 units of the Bolero were sold, making it the third-highest contributor to Mahindra's overall SUV sales. Bolero annually achieves sales of over 1 lakh units.
South Korean auto major Hyundai Motor Co president & CEO Jose Munoz on Wednesday said the company's Indian arm will invest Rs 45,000 crore by FY30, aiming to make India its second-largest region globally. Addressing investors here in his first visit to the country, Munoz said Hyundai Motor India Ltd (HMIL) has set a target of up to 30 per cent export contribution.
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