Electric Vehicle Industry: Fueling a Change: Automakers offer a range of engine and fuel technologies; here’s a preview

Even as the electric vehicle (EV) industry finds its feet in India, automakers are offering a range of engine and fuel technologies. As gasoline prices soar, consumers are also viewing the cars they drive and the fuels they use differently. ET examines the advantages and disadvantages of the various engine technologies offered by car manufacturers – battery electric vehicles (BEVs), mild hybrid electric vehicles (MHEVs), hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs) and hydrogen fuel cell electric vehicles (FCEV).

The country’s biggest automaker, Maruti Suzuki, says it will be technology neutral and focus on a range of engine options to reduce CO2 emissions. For Tata Motors, electric vehicles make up 7% of their portfolio, which is expected to grow to 25% over the next five years. Mahindra & Mahindra, which is betting big on electric vehicles, will achieve 20% penetration in the electric passenger vehicle space in 2025-27. Automakers like Toyota and Hyundai have started developing FCEVs, which not only produce zero emissions, but are more efficient than gasoline-powered vehicles.

Although epitaphs are being written for the internal combustion engine (ICE), it remains the dominant choice for cars in fiscal year 2022, with over 90% market share, followed by the MHEV at 8.5% and BEVs at 0.7%, according to Jato Dynamics. According to industry estimates, the penetration of electric vehicles in India will be 8-10% by 2030. Electric technologies and alternative fuels will all play a role in the future of mobility in India.