Honda Motor Company is on a mission to reclaim its market share in India, and it’s making some strategic moves to achieve this goal. Presently, the Japanese automaker’s Indian portfolio comprises just three models: the Amaze compact sedan, the City sedan, and the Elevate mid-size SUV. The recently launched Elevate holds high promise, and Honda aims to drive up its sales by an impressive 35 percent in the second half of this fiscal year. Read: Honda Elevate Vs Rivals
In a recent interview with an online media publication, Toshio Kuwahara, President & CEO of Asian Honda Motor Company and Head of Regional Operations for Asia & Oceania, shed light on Honda’s expansion plans for India. The company intends to bolster its model lineup with the introduction of five new products by 2030, all of which will cater exclusively to the rapidly expanding SUV segment.
One of the most notable upcoming additions is an electric SUV based on the Honda Elevate, signaling Honda’s strong commitment to electrification. Kuwahara revealed that the company’s primary focus will be on electrifying its vehicle offerings, with plans to introduce its first fully electric car within the next three years. Honda’s broader vision extends to achieving carbon neutrality on a global scale by 2040, and they have set specific milestones for 2030, 2035, and 2040 to work towards this ambitious goal.
In its pursuit of advanced technologies and market strengthening, Honda is open to collaborations and alliances. However, the company emphasizes the importance of ensuring a mutually beneficial relationship between the parties involved. Notably, Honda had joined forces with General Motors (GM) last year for the development of affordable EVs, but recently, both automakers abandoned a $5 billion plan.
The decision to end the collaboration stemmed from GM’s strategic shift, which aimed to slow down the launch of multiple EVs in order to focus on profitability, partly due to the rising costs associated with United Auto Workers strikes. Honda, however, affirms that there is no change in its commitment to its future EV plans.
