Mahindra to launch hybrid vehicle in three years

India’s utility vehicle and tractor market leader, Mahindra and Mahindra Ltd. (M&M), is responding to the increasing petrol and diesel prices by developing a full hybrid vehicle. M&M’s President, Automotive & Farm Equipment Sectors, Pawan Goenka, said that in three years, its hybrid vehicle will be ready for commercial launching. Although hybrid vehicles are considerably more expensive than traditional ones, they are less polluting because they are equipped with one or more electric motors. Honda Motor Corporation’s Indian company was the first to launch a hybrid model in the country, but production was discontinued within a year in April 2009 because of unenthusiastic response from consumers, and after the company sold some 300 units. Toyota Kirloskar Motor Pvt. Ltd launched its hybrid Prius in India in 2010, and has sold more than 155 units. Industry experts predict that demand for electric and hybrid vehicles in India will increase 50-fold by 2020. “Hybrid will become an attractive option and the point of inflection will come down should the petrol price continue the uptrend,” said Kumar Kandaswamy, senior director and country manufacturing industry leader at Deloitte Touche Tohmatsu India Pvt. Ltd. (April 12, 2012)