New Delhi: India’s automotive sector witnessed a remarkable 120% growth in electric vehicle (EV) adoption during the second quarter of the current year, largely propelled by a staggering 400% surge in hybrid vehicles, a recent report unveiled on Monday has revealed. The report, conducted by CyberMedia Research (CMR), also highlighted a substantial expansion of Advanced Driver Assistance Systems (ADAS), which recorded a remarkable 350% year-on-year growth. Moreover, the adoption of connected and digital cockpit features has gained steady momentum in passenger vehicles, surpassing the 60% mark.
The surge in EV adoption was fueled by the introduction of new, affordable models, such as the MG Comet EV from MG Motors. The automotive original equipment manufacturers (OEMs) have been strategically concentrating on introducing electric vehicles equipped with Level 2 advanced driver assistance systems (ADAS), which encompass a range of beneficial functionalities like adaptive cruise control, lane centering, and automated lane changes. This reflects a notable shift toward safer and more advanced driving experiences for consumers.
The automotive landscape has also witnessed the increasing integration of intelligent and connected cockpits within vehicles, representing a significant step toward enhancing both consumer safety and intelligent mobility while promoting environmental sustainability. This convergence of technologies underscores the industry’s commitment to delivering holistic advancements in the automotive realm.
The surge in hybrid vehicle demand, experiencing an impressive growth driven by industry players like Toyota Kirloskar, Maruti Suzuki, and Honda Motors, further contributes to the evolving dynamics of the Indian automotive sector.
As the market continues to evolve, over 90% of EV sales in the second quarter of 2023 came equipped with smart connected features, while digital cockpits adorned approximately 15% of hybrid vehicles. Looking ahead, the report projects that by the year’s end, more than 5% of passenger vehicles will be fully electric and feature ADAS capabilities. The prevalence of advanced connectivity and digital cockpit functionalities is anticipated to capture a substantial 40% market share.
In essence, the recent trends indicate a significant shift in consumer preferences and OEM strategies, highlighting the growing resonance of EVs, hybrids, and advanced automotive technologies within the Indian market. The rise in electric and hybrid adoption, coupled with the expanding presence of advanced connectivity and driver assistance features, marks an important phase of transformation for the nation’s automotive landscape.