Archive · 24 May 2025
Study: Hybrids Complement EVs, Driving Diverse Powertrain Demand
A new study suggests that hybrid cars and electric vehicles (EVs) are actually helping each other, not competing.
The study, focusing on the Indian automobile market, found that when hybrid cars are introduced, sales of EVs can increase.
This is because hybrids attract different buyers.
The study points out that in several Indian states, EV sales have increased significantly after the introduction of hybrid vehicles.
This is similar to what has happened in Europe, where hybrids have grown in popularity.
Several car companies in India are offering hybrid options alongside traditional petrol cars.
The study emphasizes that various powertrain options, including hybrids and EVs, will continue to be in demand in the coming years.
HSBC research indicates multiple powertrains will be in demand in India.
Current powertrain mix in India includes petrol, diesel, CNG, hybrids, and EVs.
Hybrids could reach 18-20% market share in India, like in Europe.
Hybrids are complementary to EVs, not competitors.
EV sales increased in several Indian states after the introduction of hybrids.
- Who
- HSBC Global Research
- What
- Demand for multiple powertrains will persist in the Indian automobile market.
- When
- Medium and long term
- Where
- India
- Why
- To analyze the trends of different powertrains in the Indian automobile market.
- Current Powertrain Mix in India
- Petrol 65%, Diesel 18%, CNG 12%, Hybrid 2%, EV 2%
- Potential Hybrid Market Share in India
- 18-20%
- Decline of Diesel Share in Europe (2015-Present)
- 51.6% to 9.5%
- Increase of Hybrid Share in Europe (2015-Present)
- 1.6% to 35.5%
- Companies Offering Hybrid Vehicles in India
- Toyota, Maruti Suzuki, Honda, MG, Mercedes-Benz, Volvo, Lexus