Asia-Pacific Micro-Hybrid Vehicles Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Asia-Pacific Micro-Hybrid Vehicles Industry Overview

The Asia-Pacific Micro Hybrid Vehicles market is dominated by few players such as Toshiba Corporation, Toyota Motor Corporation, Mahindra & Mahindra Limited, Nissan Motor Company Ltd, and Honda Motor Company, Ltd. Companies are investing heavily in research and development for the innovation of advanced products and technologies.

• In February 2020, Honda Motor Company, Ltd. has announced to begin its sales of all new Honda Fit Hybrid vehicles. It is equipped with Honda's 2-motor hybrid system which drives the vehicle with an electric motor, which results a better fuel efficiency and smooth drive.
• In April 2020, Mahindra & Mahindra Limited had launched the new Mahindra XUV 500 and Scorpio BS-VI version starting from INR 13.2 lakhs and 12.4 lakhs. Both the vehicles include one diesel engine and 6-speed manual transmission combination. The XUV500 petrol model is anticipated to be launched somewhere in the second half of 2020.
• In May 2019, Toshiba Corporation had announced that Mazda Corporation has selected its lithium-ion rechargeable battery for the M Hybrid, Mazda's hybrid system, of the MAZDA3 which is one of its best-selling cars.
• In November 2018, Toshiba Corporation have signed a partnership agreement with Johnson Controls Power Solutions to deliver low-voltage lithium-ion solutions to meet automaker demands for improved efficiency, lower costs and less complexity.
• In April 2017, Suzuki Motor Corporation, Toshiba Corporation and Denso Corporation have made an agreement on establishing a joint venture (JV) for the production of automotive lithium-ion battery packs in India.