Honda Motor Company plans to exclusively introduce sport-utility vehicles (SUVs) in India to tap into the growing segment. The company’s focus will be on electrification.
Mibe highlighted Honda’s global goal of carbon neutrality by 2040, with set milestones for 2030, 2035, and 2040. He emphasized the significance of the Indian market, noting its rapid progression towards electrification for both cars and two-wheelers. Honda aims to debut its first fully electric vehicle in India within the next three years, modelled after the recently launched Elevate SUV. They are open to partnerships for emerging technologies if mutually beneficial, according to Toshihiro Mibe, the CEO of Honda Motor Co.
Takuya Tsumura, president of Honda Cars India, revealed plans to introduce five more models, including Elevate-based EVs and other SUVs, by 2030. After discontinuing hatchbacks like Brio and Jazz, Honda continues to offer sedans like Amaze and City. With the introduction of Elevate, Honda Cars India targets a 35% sales growth in the latter half of the fiscal year.
Toshio Kuwahara, the CEO of Asian Honda Motor Company, emphasized the importance of the Indian market due to its size, ranking seventh globally in terms of car sales for Honda. He believes that the electric vehicle market in the Asia Pacific region, excluding China, will be crucial, with India playing a pivotal role.
Honda remains open to collaborations to bolster technological advancements, provided they benefit both parties. Mibe mentioned their previous partnership with General Motors to create affordable electric vehicles, which was recently terminated due to challenges to business viability. However, Mibe clarified that Honda’s openness to alliances isn’t restricted to GM and will consider any partnership that offers mutual benefits.
In India, Tsumura reiterated Honda’s commitment to launching an all-electric SUV in three years. The company is set to invest in introducing five new models in the country, though the exact investment figures remain undisclosed.