EV retrofits accelerate as war disrupts fuel supplies

Retrofitting firms report a sharp rise in interest, with inquiries doubling since conflict began

- Ayaan Kartik

Car hybrid retrofits cost ₹3-6 lakh, and e-3-wheelers around ₹1.7 lakh.

(BLOOMBERG)

Amid fuel supply disruptions due to the West Asia war, India's vehicle owners are increasingly turning to retrofitting—converting fossil fuel vehicles to electric vehicles (EVs) and hybrids—to cut running costs as well as to reduce dependence on petrol, diesel and gas.

Retrofitting firms such as Bengaluru-based Exponent Energy and Gurugram-based Folks Motor said inquiries have more than doubled since the war, reflecting a jump in consumer interest. While Exponent Energy focuses on the 3-wheeler segment, converting liquefied natural gas or compressed natural gas (LPG or CNG) vehicles to EVs, Folks works on converting internal combustion engine cars to hybrids.

"If you own an LPG or CNG vehicle in the three-wheeler space, you can just come in and overnight be converted to electric," Arun Vinayak, chief executive and founder at Exponent Energy, told Mint. "We launched it early in Bengaluru as a pilot programme. But it's suddenly seeing a lot of interest, especially people who drive LPG vehicles."

The company announced entry into the retrofitting space in November, with early pilots beginning in Bengaluru. Vinayak said inquiries for retrofits have more than tripled in since the West Asia war.