INSUBCONTINENT EXCLUSIVE:
fuels and electric vehicles (EVs) is rising sharply
About a fifth of the total passenger vehicle (PV) sales in India now consist of cleaner fuel or electric options.
The share of battery
electric vehicles (BEVs), hybrid EVs, plug-in hybrids, and compressed natural gas (CNG) vehicles touched 19.23 per cent of overall PV sales
in 2023-24, up from a mere 9.29 per cent in FY22, according to data from JATO Dynamics.
In comparison, the share of both petrol and
diesel internal combustion engines has declined
While the share of diesel is down from 18.83 per cent in FY22 to 17.79 per cent in FY24, that of petrol ICE vehicles has fallen to 62.98 per
cent in FY24 from 71.88 per cent in FY22
focused on launching CNG variants of their popular models to meet consumer demand for vehicles with lower running costs
For example, last year several popular models saw their CNG avatars making their debut: Maruti Suzuki Brezza CNG (2023), Tata Punch CNG
(2023), Maruti Suzuki Grand Vitara CNG (2023), Tata Altroz CNG (2023)
carmaker, Maruti Suzuki India (MSIL), has said that by FY31 it expects that 15-20 per cent of cars sold by the company would be EVs, and
another 25 per cent could be hybrids, while the rest will use ethanol, CNG, and compressed biogas (CBG).
In an investor presentation in
October last year, MSIL had announced it would launch six EVs in the coming years
context of meeting the carbon footprint targets and taking into account the buying power of customers, infrastructure situation, and the raw
cent share, draws 13 per cent of its total PV sales from CNG and 16 per cent of its sales from EVs as of Q4FY24
Together, CNG and EV combined have reached a 29 per cent share in its sales
The company, which currently sells four EV models, aims to launch six more by March 2026.
Tata Motors expects EV penetration in the
Indian car industry to reach 20 per cent by FY30, up from about two per cent in the last financial year
has set stringent targets to reduce automotive emissions and has stated that battery electric vehicles will be central to its clean mobility
strategy.
Moreover, according to the suggested modifications to the corporate average fuel economy (CAFE-III) standards, carmakers have
to further reduce their emission footprint
stakeholders, including OEMs
Since non-compliance with these limits results in significant penalties, it encourages manufacturers to produce more fuel-efficient and
emission-friendly vehicles
If it exceeds by more than 0.2 litres per 100 km, the penalty rises to Rs 50,000 per vehicle.
An industry insider told Business Standard
OEM.First Published: Jun 14 2024 | 11:25 PMIST
