Honda to launch 5 new products in India in the near future including EVs
Honda is betting big on the Indian market and has announced their plan of 5 upcoming cars for India. As part of their global strategy to achieve carbon neutrality by 2040, Honda is making significant shifts in their approach in India. In a recent announcement, Honda’s President and CEO, Toshihiro Mibe, revealed their new game plan that revolves around SUVs and electrification.
Honda has made a strategic decision to exclusively introduce SUVs in the Indian market. This move comes in response to the booming demand for SUVs in India.
Takuya Tsumura, President of Honda Cars India, stated, “By 2030, we plan to launch five more models such as Elevate-based EV and other SUVs. With those in the market, we would be able to compete against other companies and be able to really win.” With the introduction of the Elevate SUV, Honda aims to boost sales by 35 percent in the second half of the fiscal year.
Toshihiro Mibe stated, “For Honda, the Indian market is a big market, and it is the market where electrification is rapidly progressing for cars and two-wheelers.” Honda is gearing up to launch its first full electric vehicle in India within the next three years, based on its recently launched Elevate SUV.
The Japanese carmaker is not hesitant to explore strategic alliances to advance technological developments and strengthen its presence in India. Mibe emphasised, “Basically, what we believe is that as long as we can ensure a win-win relationship between the two companies, I think the alliance is valid.” Although Honda’s alliance with General Motors for affordable electric vehicles fell through, the company remains open to future collaborations, aiming for mutual benefits.
Toshio Kuwahara, Asian Honda Motor Company President & CEO, highlighted the importance of the Indian market for Honda. He mentioned, “It is already number seven in the world for us (in terms of the number of cars sold). Excluding China, when we look at the Asia Pacific region, electrification or the market for electric vehicles is going to be critical and because India is an important one, we think that there should be an emphasis put on India as well.”
What are your thoughts on this strategy by Honda and their upcoming cars in India that will mainly focus on the SUV and EV segments? Let us know in the comments section below.
