Global: Ford, the second largest vehicle manufacturing company in USA is working on to modification of its iconic and best-selling F-150 pickup into hybrid and electric versions. Ford is working on more efficient F-150 that will be with more towing and off-road power than traditional gasoline and diesel trucks can offer today. In last 2-3 years, the entire industry of vehicles especially for commercial vehicles and consumer demand shifts to more fuel-efficient vehicle, have paved for Ford’s favor to swing in heavy-duty electric trucks markets. Ford Executive Vice President Jim Farley said. “We think customers want to pay not just for the fuel efficiency and the carbon footprint of hybrid, they want performance.” For example, a hybrid powertrain could give the F-150 pickup a lot of low-end torque, which is helpful for climbing hills and towing loads. Ford has added a specially designed liquid-cooled lithium-ion battery into the Explorer chassis below the second row of seats to save space.
According to BlueWeave Consulting, Hybrid and electric versions of any commercial vehicles will be good factors in terms of fuel –efficiency and carbon footprint. Today most fastest growing cities of world are suffering from pollution hazardous especially from diesel/petrol based passenger and commercial vehicles. These petrol/diesel base cars and vehicles are emitting gases which are unlivable place in all over world. To lowering the CO2 emission from commercial vehicles, the best method is the hybridization of vehicles. A hybrid vehicle uses two or more distinct power sources, i.e. hybrid electric vehicles (HEVs) combine an internal combustion engine and one or more electric motors. Commercial Vehicles employed in urban areas like small passenger cars, local delivery trucks and city busses benefit from hybridization and show substantially lower CO2 emissions. Apart from lowering co2 emission, hybrid vehicles have better benefit than traditional vehicles like reduced Spending on Maintenance on hybrid and electrical vehicles, reduced spending on fuel etc.
The major factors for growing market of electric and hybrid vehicles are environmental consciousness awakens through various government and public awareness towards environments, major steps taken by various government to promote electric and hybrid in place of traditional vehicles, major automaker have started their own technology to implement this projects. Apart from this, fuel efficiency of vehicles are major key factors for adapting hybrid and electric vehicles.
According to BlueWeave Consulting‘s reports ,Titled-“ Global Electric Commercial Vehicles Market by Propulsion type (BEV, HEV, PHEV, FCEV), by Vehicle type (Bus, Truck, Van, Others), by Component (Motor, Battery, Others) – Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014-2024” Global Electric Commercial Vehicles market is expected to grow at a CAGR over 13.0% during the forecast period in terms of value. The key drivers for growth of market are government initiatives to promote green transportation across the globe and major global concern is environmental issues all over world. With hybrid and electric commercial modification of all traditional existing vehicles will also play key role in growth of electric and hybrid markets in forecast period.
According to BlueWeave Consulting‘s upcoming reports ,Titled-“ India Electric Commercial Vehicles Market by Propulsion type (BEV, HEV, PHEV, FCEV), by Vehicle type (Bus, Truck, Van, Others), by Component (Motor, Battery, Others) – Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019-2024”- The major factors for growth of hybrid and electrical vehicles in India are government initiation in the direction of electrification of vehicles for e.g. tax exemption, zero import duty, public awareness by government towards electric vehicles, Initiation of top most automaker in India and utilizing their technology etc. The mentioned key will play major role in growth of hybrid and electric vehicles in India in forecast period.