Global auto components major Bosch said Indian original equipment makers (OEMs) are open to their hybrid technology offering and the company is in talks with several automakers to offer a full range of hybrid solutions.
“Currently, we are talking to several OEMs. Of course, the big ones that have been introduced are using the Toyota hybrid system. The other OEMs are very open to considering us and we are in discussions with several OEMs on the full range of our hybrid solutions to be offered,” Mudlapur said in a post-earnings call.
Though there are only a few models available in the market, sales of hybrid vehicles have been gaining momentum. During the financial year 2023-24, close to 90,000 hybrid vehicles were sold in India, accounting for around 2% of the total car sales in the country. Maruti Suzuki, Toyota and Honda are the major carmakers offering hybrid vehicles here.
“Hybrids have seen a recent emergence not just in India, but all over the world. It is not clear how long this phase will last before full-battery electric vehicles come in, or will become more prevalent. In the meanwhile, there is limited time window in our view for hybrids,” Mudlapur said.
Autocar Professional recently reported that Hyundai Motor India is planning to offer add hybrid powertrain in its line-up amid growing demand for electric vehicles. Kia India is also actively considering to introduce hybrid products in its portfolio. Mahindra & Mahindra’s MD Anish Shah has said the automaker is closely looking at hybrid technology and would be ready to introduce hybrid vehicles if there is a strong customer demand.
India's largest car maker Maruti Suzuki has been advocating for a reduction in the GST on hybrid cars. A reduction in taxes could further boost the sales of hybrid cars in the country. However, Tata Motors has been opposing any tax cuts on hybrids, saying hybrids are a temporary solution and shouldn't be a central focus for government incentives.
“As a technology company, we have a full range of products for the hybrid market. We offer hybrid energy batteries; we have systems that are for different classes of hybrids. We have from P1 to P4, all classes of hybrids catered to within our product technology. And this we are offering also to the India OEMs,” he added.
Maruti Suzuki, which is working on a more accessible hybrid solution for India and anticipates 25 percent of its sales to come from hybrid vehicles by 2030, has already localized batteries for hybrid vehicles. Its partner Toyota has also localized e-drive transmission systems to reduce the premium on hybrid vehicles.
MG Motors is also working on a new mid-size platform that will have strong hybrid and plug-in hybrid options, while Renault Nissan Automotive Alliance is also exploring a hybrid powertrain option.
Meanwhile, Autocar Professional recently reported that Ashok Leyland is exploring the development of hybrid technology for its small commercial vehicles to cater to the demand for intercity applications.