India Joins the Quest for Auto's Holy Grail
Oct. 21, 2006: The Financial Express
Summary: The quest to develop commercially viable vehicles powered by alternative fuels is an area where global automobile majors are pumping in billions of dollars. It’s top research priority for auto companies and development laboratories. Besides being a potential money-spinner for the inventor, it promises to change the direction of the industry.
Skyrocketing crude prices in the past few years and rapid depletion in the world’s fossil fuel reserves has narrowed down the choices to natural gas, petroleum gas, fuel cells, biogas and hydrogen. Global leaders like Toyota and Honda have already stolen a march by launching hybrid vehicles like the Toyota Prius and Honda Civic Hybrid, Insight which have sales of over 5 lakh units a year.