CNG, EVs and hybrid vehicles may grab up to 30 per cent share in total auto sales in next five years even as petrol cars are likely to dominate passenger vehicle volumes in medium-term, a report said on Tuesday.
Demand for Electric Vehicles (EVs) has increased exponentially in the last two years with the government’s push, increasing awareness, and new launches, domestic rating agency Icra said in its report.
However, the share of EVs in the overall PV (passenger vehicle) industry remains low, at 1 per cent currently, it stated.
On the other hand, CNG vehicles have also gained prominence in recent years, aided by favourable running costs, improving penetration of CNG dispensing stations across the country,
