Key Points
Factors like charging time, availability of charging infrastructure and safety of battery technology continue to impede faster adoption to BEVs (battery electric vehicles) according to the findings of Deloitte's 2024 Global Automotive Consumer Study...
Close to 36% of the respondents surveyed in 2024 as compared to 32% in 2023 said they will prefer hybrids or PHEVs as compared to 10% for BEVs..
The intent to buy hybrids over pure battery electric vehicles comes to the fore even as EVs benefit from state as well as central government funded incentives which in turn has allowed manufacturers to price them better as compared to hybrids..
"For a market like India, where charging infrastructure is still underdeveloped, the government should at least incentivize PHEVs which offer the benefits similar to an EV-can be charged at home and can be switched to the ICE mode in the event of the vehicle running out of charge," he added..
Even without the government, the incentives have continued to launch more affordable hybrid models which has helped in increasing the share of hybrids bringing it on par with EVs - from 0.5% in 2022 to 2% in 2023, as per industry estimates..
