Honda has unveiled an ambitious plan for the Indian market, emphasizing the launch of five new cars, with a strong focus on SUVs and electrification. This shift is part of Honda's global strategy to achieve carbon neutrality by 2040. The company is betting on the booming demand for SUVs in India and aims to offer a range of new models to cater to this market.
Honda's President and CEO, Toshihiro Mibe, shared insights into the company's new approach. Honda will exclusively introduce SUVs in India and has plans to launch five more models by 2030, including an EV based on the Elevate SUV. These strategic moves are aimed at positioning Honda to compete effectively in India's evolving automotive landscape.
The Elevate SUV, which is set to be introduced, holds the key to Honda's plans for boosting sales. The company is targeting a 35 percent increase in sales during the second half of the fiscal year with the launch of this SUV. In terms of electrification, Honda is gearing up to introduce its first full electric vehicle in India within the next three years. The company recognizes the rapid progress of electrification in the Indian market, both for cars and two-wheelers, and is determined to make a significant impact.
Honda is also open to exploring strategic alliances to advance technological developments and enhance its presence in India. While its previous alliance with General Motors for affordable electric vehicles didn't materialize, Honda remains committed to seeking mutually beneficial collaborations. Toshio Kuwahara, President & CEO of Asian Honda Motor Company, emphasized the importance of the Indian market for Honda. It is already one of the top markets for Honda worldwide, excluding China. The growing importance of electrification and the electric vehicle market in the Asia Pacific region makes India a critical focus for Honda's strategy.
This bold shift by Honda to prioritize SUVs and electric vehicles in India aligns with the global automotive industry's changing dynamics, emphasizing sustainability and advanced technology. It will be interesting to see how Honda's plans unfold in the Indian market and how consumers respond to this new lineup of SUVs and EVs.