Looking beyond electric vehicles: Auto makers race ahead with green-fuel launches
Indian auto industry, green sustainable mobility a.k.a. carbon neutrality is the new buzzword as companies go beyond electric vehicles. Passenger vehicle launches in the alternative fuel space — hybrids, CNG, electric have seen a sharp increase with traditional fuel vehicles experiencing a relative slowdown.
The industry saw 24 CNG PV launches this fiscal as compared to 14 in FY 20. In the case of electric, there were 31 PV launches as compared to 7 models in FY20. Strong hybrids have also seen increased traction, with sales outpacing electric for the first time in last 2 months. Petrol model launches at 111 were lower by 21% and diesel at 54 down by 61%, according to Jato Dynamics.
Even though EVs will play an important role, there seems to be a co-existence of various technologies with a substantial share of NEVs (new energy) and ICE (internal combustion engines) vehicles, say leading car makers. Maruti Suzuki senior executive director Shashank Srivastava expects 15% of the portfolio for the country's largest carmaker to be electric by 2030, with 25% strong hybrids and 60% a mix of petrol, CNG, biofuels and flexi-fuels.
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At the moment, CNG vehicles account for 26% of Maruti sales, with strong hybrids at 1%. The company doesn’t have any electric models as of now, so the balance comprises ICE models.
It is expected that the adoption rate of electric, hybrid & CNG vehicles will increase because of their lower running costs. But due to the higher cost of acquisition of electric vehicles and the lack of charging infrastructure it is the CNG & hybrid vehicles which have seen more traction with consumers, say experts.
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