Electric and Hybrid Car Market in India

Electric and Hybrid car market is yet to make its presence felt in India with serious initiatives still required from the political circle. Reva the lone electric car company launched some 10 years back has not been able to make an impact in India market due to the high cost. In 2010 Government of India to give a boost to electric vehicle market by giving subsidies which has a lesser effect in sales of Reva.

There are companies lined up to target the big potential Indian market but still looking for a supportive hand from the Government. General Motors displayed and tested an electric version of Chevrolet Beat in India a week back with an eye on demanding and growing market. On same verge are other companies like Mahindra & Mahindra, Hyundai, Maruti Suzuki who are eying a tremendous demand in automobile sector in urban India.

According to marketing research reports electric car market might be able to account for 4-5% of the Indian vehicle market by 2016. However, electric scooters have seen a surge in demand for last 2-3 years due to rise in fuel prices. Eko, M&M, Hero group have exploited the market well especially the small metros. As per online market survey done two months back consumers feel the lack of EV infrastructure in India. There is not a single EV charging point in India which needs to be concentrated on both by the technology leaders and government.

In comparison to India, China has shown a keen interest in developing EV infrastructure going on simultaneously with EV technology. In recently released press release by 2015 China roads will have 500,000 EV’s . However it leads the world market with the most number of e-scooters, e-bikes and light EV’s. With the growing demand and sale of EV’s China plans 220,000 electric vehicle charging points. The same initiative is required in India to take a big step towards pollution free environment.

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