The key drivers behind the hybrid penetration will be the expanding hybrid vehicle portfolios of Original Equipment Manufacturers (OEMs).
The report stated that Electric Vehicles (EV) penetration will increase only gradually, as technology and charging infrastructure catch up.
"We expect EV penetration to increase only gradually, as technology and charging infrastructure catch up. We expect hybrid penetration to increase faster in the near to medium term, and believe a key driver for this will be the expanding hybrid vehicle portfolios of OEMs," says the report.
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70/90 Work Week and the Productivity Imperative
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India's Jan Business Growth at...
Despite those headwinds, there were some bright spots.