Hybrid EV Conversion Kit Market size was valued at USD 489.41 Million in 2023. The total Hybrid EV Conversion Kit Market size is expected to grow at a CAGR of 16.5% from 2024 to 2030, reaching nearly USD 1425.47 Million.Overview
A Hybrid Electric Vehicle (HEV) conversion kit is a system that is installed in a conventional vehicle to transform it into a hybrid electric vehicle, which uses both an internal combustion engine and an electric motor to power the vehicle. The conversion kit typically includes an electric motor, battery pack, power electronics, and control systems. The electric motor assists the engine during acceleration and provides regenerative braking to recharge the battery pack.To know about the Research Methodology :- Request Free Sample Report
There are several Hybrid EV Conversion Kit Market players that offer:
HEV conversion kits, including - XL Fleet is a leading provider of vehicle electrification solutions for commercial and municipal fleets. Their XL Hybrid system can be installed on a wide range of Class 2-6 commercial vehicles, including vans, trucks, and buses. EV West specializes in converting vintage and classic cars into electric vehicles. They offer a range of conversion kits, including HEV conversion kits for a variety of vehicle models. Hymotion is a Canadian company that specializes in converting Toyota Prius hybrid vehicles into plug-in hybrid electric vehicles (PHEVs). Their conversion kit includes a larger battery pack and a charging system, allowing the vehicle to run in electric-only mode for longer distances. A123 Systems is a leading provider of advanced lithium-ion batteries and energy storage systems. They offer a range of HEV conversion kits that can be customized to meet the specific needs of different Applications. Report covered the micro level analyses of key market players and their strategies and recent development in detailed. HEV conversion kit market is still relatively small, as most automakers. They are now producing hybrid and electric vehicles directly from the factory. However, there is still demand for conversion kits, particularly for fleets. The individual vehicle owners who want to reduce their environmental impact and improve fuel efficiency. All of these factors is expected to drive the hybrid EV conversion kit market during the forecast period.Global Market Dynamics:
Driver:
Plug-in hybrid electric vehicle (PHEV) conversion kits
The development of plug-in hybrid electric vehicle (PHEV) conversion kits is an emerging trend in the HEV conversion kit market. PHEV conversion kits typically include a larger battery pack, a charging system, and additional control systems that allow the vehicle to operate in electric-only mode for longer distances. One of the key advantages of PHEV conversion kits is that they can be installed on existing hybrid vehicles, allowing owners to upgrade their vehicles without having to purchase a new car. The Hybrid EV conversion kit is high in demand thanks to PHEV conversion kits, this conversion kit can also be more cost-effective than purchasing a new plug-in hybrid or all-electric vehicle, particularly for fleet operators who need to upgrade multiple vehicles. There are several Hybrid EV Conversion Kit companies that are currently developing PHEV conversion kits, for Example, Enginer is a California-based company that offers PHEV conversion kits for the Toyota Prius and other hybrid vehicles. Their conversion kit includes a larger battery pack, a charging system, and a control unit that allows the vehicle to operate in electric-only mode for up to 40 miles. Plug-In Supply is a Michigan-based company that offers PHEV conversion kits for a variety of hybrid vehicles, including the Ford Escape, Toyota Highlander, and Lexus RX400h. Their conversion kit includes a larger battery pack, a charging system, and additional control systems that allow the vehicle to operate in electric-only mode for up to 35 miles.REVOLT is a German-based company-
Above company offers, PHEV conversion kits for a variety of hybrid and non-hybrid vehicles, including the BMW 3 Series, Mercedes-Benz E-Class, and Audi A4. Their conversion kit includes a larger battery pack, a charging system, and additional control systems that allow the vehicle to operate in electric-only mode for up to 50 miles. The development of PHEV conversion kits in Hybrid EV conversion kit industry is an exciting trend that has the potential to significantly reduce emissions and improve fuel efficiency, particularly for fleet operators and individual vehicle owners who are looking to upgrade their vehicles without purchasing a new car.Global Market Growth Opportunity:
Modular and scalable conversion kits penetrate the market
Growing trend towards modular and scalable conversion kits in recent years, particularly in the fields of technology and manufacturing. Modular conversion kits are designed to be easily assembled and reconfigured to meet specific needs and requirements. This allows for greater flexibility and efficiency in the design and production process, as components can be easily swapped in and out as needed, which is expected to drive the Hybrid EV Conversion Kit Market during the forecast period. Scalable conversion kits are designed to be easily expanded or contracted as the needs of the user change. This can be particularly useful in situations where demand for a product or service fluctuates, as it allows for rapid scaling up or down without requiring a complete redesign or overhaul of the system. Both modular and scalable conversion kits offer numerous benefits, including reduced costs, improved efficiency, increased flexibility, and faster time to Hybrid EV Conversion Kit Market. As a result, they have become increasingly popular in a wide range of industries, from electronics and manufacturing to renewable energy and transportation, which is expected to increases demand for Market during the forecast period.Hybrid EV Conversion Kit Market Segment Analysis:
By Vehicle Class: The Hybrid EV Conversion Kit Market Segmented into Mid Price and Luxury. Mid Price Hybrid EV Conversion Kit Market is expected to dominate the market during the forecast period. Hybrid EV conversion kits typically combine a traditional gasoline engine with an electric motor and battery, allowing the vehicle to switch between the two power sources as needed. This can result in improved fuel economy and reduced emissions, making it an attractive option for environmentally conscious drivers. For example of a mid-priced hybrid EV conversion kit is the Hymotion L5 conversion kit, which is designed to convert the Toyota Prius from a standard gasoline-powered vehicle into a plug-in hybrid electric vehicle (PHEV). This conversion kit includes an additional lithium-ion battery pack that can be charged from an external power source, allowing the vehicle to travel further on electric power alone. The Hymotion L5 conversion kit was priced around $10,000 at the time of its release. Factors that may influence the demand for a mid-priced conversion kit like this include the cost savings that come with improved fuel efficiency, the desire for a more environmentally friendly vehicle, and the availability of government incentives or rebates for purchasing or converting to a hybrid or electric vehicle. Additionally, the popularity of the Toyota Prius as a hybrid vehicle may make the Hymotion L5 conversion kit a popular choice for those looking to upgrade their existing vehicle.Global Market Regional Insights:
Asia Pacific: The Asia Pacific region is an important market for hybrid and electric vehicles, and as a result, there is a growing demand for hybrid EV conversion kits in the region. Several factors are driving the demand for these conversion kits, including government initiatives aimed at promoting the adoption of clean energy vehicles, rising fuel prices, and growing awareness among consumers about the benefits of hybrid and electric vehicles. In recent years, several companies in the Asia Pacific region have emerged as major players in the hybrid EV conversion kit market. For example, in China, companies such as Jirui Electric and Yiyang New Energy Technology have developed conversion kits for popular models like the Volkswagen Golf and the Honda Fit. These conversion kits are designed to provide improved fuel economy and lower emissions, making them an attractive option for consumers in the region. Japan is another important market for hybrid EV conversion kits, with companies such as ECOVE and FDK Energy offering a range of conversion kits for popular models like the Toyota Prius and the Nissan Leaf. These conversion kits are designed to improve the range and performance of these vehicles, making them more attractive to consumers who are looking to make the switch to electric or hybrid vehicles. The Asia Pacific hybrid EV conversion kit market is expected to continue to grow in the coming years, as more consumers look for ways to reduce their environmental impact and save money on fuel costs. The availability of government incentives and subsidies, along with improvements in battery technology and charging infrastructure, are likely to further drive the adoption of hybrid and electric vehicles in the regionHybrid EV Conversion Kit Market Scope: Inquiry Before Buying
Hybrid EV Conversion Kit Market Report Coverage Details Base Year: 2023 Forecast Period: 2024-2030 Historical Data: 2018 to 2023 Market Size in 2023: USD 489.41 Mn. Forecast Period 2024 to 2030 CAGR: 16.5 % Market Size in 2030: USD 1425.47 Mn. Segments Covered: by Vehicle class Mid-Priced Luxury By Application Passenger Cars Commercial Vehicles Hybrid EV Conversion Kit Market Regional Insights:
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Hybrid EV Conversion Kit Key Players:
1. Altigreen Propulsion Labs Pvt. Ltd, 2. XL Fleet 3. A123 Systems LLC, 4. Enginer, 5. EVDrive, 6. Hybrid Design Services Inc., 7. IX Energy Pvt. Ltd., 8. KPIT Technologies Ltd., 9. Odyne Systems LLC, 10. Stealth EV, 11. XL Hybrids Inc. 12. Odyne Systems LLC 13. Hybrid Design Services Inc. 14. ALTe Technologies FAQs: 1. What are the growth drivers for the Hybrid EV Conversion Kit Market? Ans. The increasing prevalence of chronic pain diseases such as arthritis, cancer, and fibromyalgia, is expected to be the major driver for the Hybrid EV Conversion Kit Market. 2. What is the major restraint for the Hybrid EV Conversion Kit Market growth? Ans. Stringent government regulations are expected to be the major restraining factor for the Hybrid EV Conversion Kit Market growth. 3. Which region is expected to lead the global Hybrid EV Conversion Kit Market during the forecast period? Ans. Asia Pacific is expected to lead the global Hybrid EV Conversion Kit Market during the forecast period. 4. What is the projected market size & growth rate of the Hybrid EV Conversion Kit Market? Ans. The Hybrid EV Conversion Kit Market size was valued at USD 489.41 Million in 2023 and the total Hybrid EV Conversion Kit Market revenue is expected to grow at a CAGR of 16.5% from 2024 to 2030, reaching nearly USD 1425.47 Million. 5. What segments are covered in the Hybrid EV Conversion Kit Market report? Ans. The segments covered in the Hybrid EV Conversion Kit Market report are Type, Applications, End-use, and Region.
1. Hybrid EV Conversion Kit Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Hybrid EV Conversion Kit Market: Dynamics 2.1. Hybrid EV Conversion Kit Market Trends by Region 2.1.1. North America Hybrid EV Conversion Kit Market Trends 2.1.2. Europe Hybrid EV Conversion Kit Market Trends 2.1.3. Asia Pacific Hybrid EV Conversion Kit Market Trends 2.1.4. Middle East and Africa Hybrid EV Conversion Kit Market Trends 2.1.5. South America Hybrid EV Conversion Kit Market Trends 2.2. Hybrid EV Conversion Kit Market Dynamics by Region 2.2.1. North America 2.2.1.1. North America Hybrid EV Conversion Kit Market Drivers 2.2.1.2. North America Hybrid EV Conversion Kit Market Restraints 2.2.1.3. North America Hybrid EV Conversion Kit Market Opportunities 2.2.1.4. North America Hybrid EV Conversion Kit Market Challenges 2.2.2. Europe 2.2.2.1. Europe Hybrid EV Conversion Kit Market Drivers 2.2.2.2. Europe Hybrid EV Conversion Kit Market Restraints 2.2.2.3. Europe Hybrid EV Conversion Kit Market Opportunities 2.2.2.4. Europe Hybrid EV Conversion Kit Market Challenges 2.2.3. Asia Pacific 2.2.3.1. Asia Pacific Hybrid EV Conversion Kit Market Drivers 2.2.3.2. Asia Pacific Hybrid EV Conversion Kit Market Restraints 2.2.3.3. Asia Pacific Hybrid EV Conversion Kit Market Opportunities 2.2.3.4. Asia Pacific Hybrid EV Conversion Kit Market Challenges 2.2.4. Middle East and Africa 2.2.4.1. Middle East and Africa Hybrid EV Conversion Kit Market Drivers 2.2.4.2. Middle East and Africa Hybrid EV Conversion Kit Market Restraints 2.2.4.3. Middle East and Africa Hybrid EV Conversion Kit Market Opportunities 2.2.4.4. Middle East and Africa Hybrid EV Conversion Kit Market Challenges 2.2.5. South America 2.2.5.1. South America Hybrid EV Conversion Kit Market Drivers 2.2.5.2. South America Hybrid EV Conversion Kit Market Restraints 2.2.5.3. South America Hybrid EV Conversion Kit Market Opportunities 2.2.5.4. South America Hybrid EV Conversion Kit Market Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Technology Roadmap 2.6. Regulatory Landscape by Region 2.6.1. North America 2.6.2. Europe 2.6.3. Asia Pacific 2.6.4. Middle East and Africa 2.6.5. South America 2.7. Key Opinion Leader Analysis For Hybrid EV Conversion Kit Industry 2.8. Analysis of Government Schemes and Initiatives For Hybrid EV Conversion Kit Industry 2.9. Hybrid EV Conversion Kit Market Trade Analysis 2.10. The Global Pandemic Impact on Hybrid EV Conversion Kit Market 3. Hybrid EV Conversion Kit Market: Global Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) 2023-2030 3.1. Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 3.1.1. Mid-Priced 3.1.2. Luxury 3.2. Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 3.2.1. Passenger Cars 3.2.2. Commercial Vehicles 3.3. Hybrid EV Conversion Kit Market Size and Forecast, by Region (2023-2030) 3.3.1. North America 3.3.2. Europe 3.3.3. Asia Pacific 3.3.4. Middle East and Africa 3.3.5. South America 4. North America Hybrid EV Conversion Kit Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 4.1. North America Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 4.1.1. Mid-Priced 4.1.2. Luxury 4.2. North America Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 4.2.1. Passenger Cars 4.2.2. Commercial Vehicles 4.3. North America Hybrid EV Conversion Kit Market Size and Forecast, by Country (2023-2030) 4.3.1. United States 4.3.1.1. United States Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 4.3.1.1.1. Mid-Priced 4.3.1.1.2. Luxury 4.3.1.2. United States Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 4.3.1.2.1. Passenger Cars 4.3.1.2.2. Commercial Vehicles 4.3.2. Canada 4.3.2.1. Canada Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 4.3.2.1.1. Mid-Priced 4.3.2.1.2. Luxury 4.3.2.2. Canada Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 4.3.2.2.1. Passenger Cars 4.3.2.2.2. Commercial Vehicles 4.3.3. Mexico 4.3.3.1. Mexico Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 4.3.3.1.1. Mid-Priced 4.3.3.1.2. Luxury 4.3.3.2. Mexico Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 4.3.3.2.1. Passenger Cars 4.3.3.2.2. Commercial Vehicles 5. Europe Hybrid EV Conversion Kit Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 5.1. Europe Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 5.2. Europe Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 5.3. Europe Hybrid EV Conversion Kit Market Size and Forecast, by Country (2023-2030) 5.3.1. United Kingdom 5.3.1.1. United Kingdom Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 5.3.1.2. United Kingdom Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 5.3.2. France 5.3.2.1. France Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 5.3.2.2. France Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 5.3.3. Germany 5.3.3.1. Germany Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 5.3.3.2. Germany Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 5.3.4. Italy 5.3.4.1. Italy Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 5.3.4.2. Italy Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 5.3.5. Spain 5.3.5.1. Spain Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 5.3.5.2. Spain Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 5.3.6. Sweden 5.3.6.1. Sweden Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 5.3.6.2. Sweden Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 5.3.7. Austria 5.3.7.1. Austria Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 5.3.7.2. Austria Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 5.3.8. Rest of Europe 5.3.8.1. Rest of Europe Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 5.3.8.2. Rest of Europe Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 6. Asia Pacific Hybrid EV Conversion Kit Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 6.1. Asia Pacific Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 6.2. Asia Pacific Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 6.3. Asia Pacific Hybrid EV Conversion Kit Market Size and Forecast, by Country (2023-2030) 6.3.1. China 6.3.1.1. China Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 6.3.1.2. China Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 6.3.2. S Korea 6.3.2.1. S Korea Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 6.3.2.2. S Korea Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 6.3.3. Japan 6.3.3.1. Japan Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 6.3.3.2. Japan Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 6.3.4. India 6.3.4.1. India Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 6.3.4.2. India Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 6.3.5. Australia 6.3.5.1. Australia Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 6.3.5.2. Australia Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 6.3.6. Indonesia 6.3.6.1. Indonesia Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 6.3.6.2. Indonesia Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 6.3.7. Malaysia 6.3.7.1. Malaysia Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 6.3.7.2. Malaysia Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 6.3.8. Vietnam 6.3.8.1. Vietnam Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 6.3.8.2. Vietnam Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 6.3.9. Taiwan 6.3.9.1. Taiwan Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 6.3.9.2. Taiwan Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 6.3.10. Rest of Asia Pacific 6.3.10.1. Rest of Asia Pacific Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 6.3.10.2. Rest of Asia Pacific Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 7. Middle East and Africa Hybrid EV Conversion Kit Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 7.1. Middle East and Africa Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 7.2. Middle East and Africa Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 7.3. Middle East and Africa Hybrid EV Conversion Kit Market Size and Forecast, by Country (2023-2030) 7.3.1. South Africa 7.3.1.1. South Africa Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 7.3.1.2. South Africa Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 7.3.2. GCC 7.3.2.1. GCC Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 7.3.2.2. GCC Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 7.3.3. Nigeria 7.3.3.1. Nigeria Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 7.3.3.2. Nigeria Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 7.3.4. Rest of ME&A 7.3.4.1. Rest of ME&A Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 7.3.4.2. Rest of ME&A Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 8. South America Hybrid EV Conversion Kit Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 8.1. South America Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 8.2. South America Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 8.3. South America Hybrid EV Conversion Kit Market Size and Forecast, by Country (2023-2030) 8.3.1. Brazil 8.3.1.1. Brazil Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 8.3.1.2. Brazil Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 8.3.2. Argentina 8.3.2.1. Argentina Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 8.3.2.2. Argentina Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 8.3.3. Rest Of South America 8.3.3.1. Rest Of South America Hybrid EV Conversion Kit Market Size and Forecast, by Vehicle Class (2023-2030) 8.3.3.2. Rest Of South America Hybrid EV Conversion Kit Market Size and Forecast, by Application (2023-2030) 9. Global Hybrid EV Conversion Kit Market: Competitive Landscape 9.1. MMR Competition Matrix 9.2. Competitive Landscape 9.3. Key Players Benchmarking 9.3.1. Company Name 9.3.2. Business Segment 9.3.3. End-user Segment 9.3.4. Revenue (2023) 9.3.5. Company Locations 9.4. Leading Hybrid EV Conversion Kit Market Companies, by market capitalization 9.5. Market Structure 9.5.1. Market Leaders 9.5.2. Market Followers 9.5.3. Emerging Players 9.6. Mergers and Acquisitions Details 10. Company Profile: Key Players 10.1. Altigreen Propulsion Labs Pvt. Ltd, 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Scale of Operation (small, medium, and large) 10.1.7. Details on Partnership 10.1.8. Regulatory Accreditations and Certifications Received by Them 10.1.9. Awards Received by the Firm 10.1.10. Recent Developments 10.2. XL Fleet 10.3. A123 Systems LLC, 10.4. Enginer, 10.5. EVDrive, 10.6. Hybrid Design Services Inc., 10.7. IX Energy Pvt. Ltd., 10.8. KPIT Technologies Ltd., 10.9. Odyne Systems LLC, 10.10. Stealth EV, 10.11. XL Hybrids Inc. 10.12. Odyne Systems LLC 10.13. Hybrid Design Services Inc. 10.14. ALTe Technologies 11. Key Findings 12. Industry Recommendations 13. Hybrid EV Conversion Kit Market: Research Methodology 14. Terms and Glossary