MILD HYBRID VEHICLE MARKET ANALYSIS

Key Developments

• In May 2023, GAC, a China-based manufacturer, launched Trumpchi E9 hybrid MPV, available in three trims: Base Pro, Mid-spec Max, and a higher-tier trim, with prices ranging from CNY 329,800 (USD 45,170) to CNY 369,800 (USD 50,648).
• In September 2022, Volvo introduced its latest lineup of petrol mild-hybrid vehicles in India, including the petrol mild-hybrid versions of its flagship SUV XC90, mid-size SUV XC60, compact SUV XC40, and luxury sedan S90 for the 2023 model year
• For instance, the 2022 Mercedes-Benz S-Class showcases a 48 V mild hybrid system, which delivers an extra 22 horsepower and up to 184 lb-ft of torque, while also enhancing fuel efficiency by up to 10%

*Definition: Mild hybrid vehicle market refers to the automotive industry segment focused on producing and selling vehicles that are partially electrified with mild-hybrid technology. These vehicles have small battery packs and electric motors that provide auxiliary power assistance to improve fuel efficiency but do not enable full electric-only driving ranges like regular hybrids or plug-in hybrids. Mild hybrid systems are integrated into traditional internal combustion engine vehicles to reduce emissions and boost fuel economy by a few miles per gallon through features like start/stop functionality, regenerative energy system.