Bosch said the company is in talks with several automakers to offer a full range of hybrid solutions.   

The company added that Indian original equipment makers (OEMs) are open to their hybrid technology offering.

“Currently, we are talking to several OEMs. Of course, the big ones that have been introduced are using the Toyota hybrid system. The other OEMs are very open to considering us and we are in discussions with several OEMs on the full range of our hybrid solutions to be offered,” Mudlapur said in a post-earnings call.

Though there are only a few models available in the market, sales of hybrid vehicles have been gaining momentum. During the financial year 2023-24, close to 90,000 hybrid vehicles were sold in India, accounting for around 2% of the total car sales in the country. Maruti Suzuki, Toyota and Honda are the major carmakers offering hybrid vehicles.

“Hybrids have seen a recent emergence not just in India, but all over the world. It is not clear how long this phase will last before full-battery electric vehicles come in, or will become more prevalent. In the meanwhile, there is limited time window in our view for hybrids,” Mudlapur said.