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Hybrid Electronic Cars: Increasing demand in emerging countries to drive demand growth

Published on: Friday 9th June 2017

We are living in the era of globalisation. Everything that has positive or negative shades is gaining popularity, be it a positive or negative. The 21st century started with the scarcity of conventional fuels such as Petrol, Diesel, Crude Oil, etc. Hence, there felt a necessity to invent an option for conventional sources of energy. So, hybrid electronic Vehicles (HEVs) were invented.

In hybrid electronic cars, conventional internal combustion engine (ICE) system is combined with an electric propulsion system. The presence of this second alternate power source is intended to increase the fuel efficiency of the vehicle. It will be cost effective and convenient as well. Lets not go into much technical stuff, but here are some of the key points to be remembered about the hybrid electronic cars and what could be their future?

If you check the statistic mentioned above then you will notice that in last 10 years, Industries in U.S. (Hybrid Electronic Vehicles) have seen a manifold increase in the sale of HEVs. The statistics show that the growth in the sale was somewhat unstable too at some point of time. There are multiple reasons responsible for it.

If we talk specifically about India, then we are the target customer for the major giants in the vertical of HEVs manufacturers. When it comes to spreading your wings across the masses, at that time our countrys government policies are also proving to be helpful for those who want to enter in this sector.

In terms of volume, as far as the sale of HEVs is concerned then, developed countries have reached their saturation level. Hence companies such as Toyota, Honda, Volvo, BMW are diverting their attention to Asian countries. Out of all the Asian Countries, India has emerged to be a strongest amongst all others. Convenient government policies, skilled manpower, increasing purchasing power of Indian customers are some of the key reasons for this move of MNCs. In recent years, Indian multinational companies such as Mahindra Group have now gained full traction in the vertical of vehicle manufacturing due to the reasons mentioned above. In short, as far as the developing countrys market is concerned, hybrid cars have a great and bright future ahead!

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