India sees over 120% growth in EVs and hybrid vehicles surge 400%

In the second quarter of this year, India saw a 120% increase in electric cars (EVs), fuelled by a 400% increase in hybrid vehicles, according to a report released.

According to a CyberMedia Research (CMR) report, assistance systems (ADAS) have grown by 350% year-over-year, and the adoption of connected and digital cockpit features are becoming more and more common in passenger cars, with usage surpassing 60%.

One example of a new, reasonably priced model that contributed to the spike in EV adoption was the MG Comet EV from MG Motors.

According to Mr. John Martin, Senior Analyst-smart Mobility Practice, CMR, "Automotive original equipment manufacturers (OEMs) are focused on introducing electric vehicles with Level 2 advanced driver assistance systems (ADAS) that include helpful features like adaptive cruise control, lane centring, and automated lane changes.”

Mr. John Martin added that in addition to enhancing consumer safety, these advancements also promote intelligent mobility and environmental sustainability.

OEMs like Toyota Kirloskar, Maruti Suzuki, and Honda Motors were responsible for the notable surge in demand for hybrid vehicles.

According to the report, in Q2 of 2023, over 90% of EV sales had smart-linked features installed, and 15% of hybrid vehicles had digital cockpits. Over 5% of passenger cars will probably be entirely electric and have ADAS features by the end of this year.

Moreover, according to the report, digital cockpit functions and advanced connectivity are expected to account for 40% of the market.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.