KEY HIGHLIGHTS
- Honda to launch only SUVs and EVs in India
- Honda India CEO reveals future plans and direction
- Currently, Honda sells only sedans and SUVs in India
Honda is making a significant shift in its strategy for the Indian market, unveiling plans for five upcoming cars in the country. In alignment with its global strategy to achieve carbon neutrality by 2040, Honda is undergoing a transformative shift in its approach in India. The brand's President and CEO, Toshihiro Mibe, recently disclosed their strategic game plan, which primarily centers on SUVs and electrification.
Let's look at the monumental shift that the brand is planning and what it means for the market.
Honda Bets Heavily On SUVs & EVs
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.
Also, Read- Mahindra Thar EV Homologated As The Off-Roader Goes Electric
Adding to it, 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 fully electric vehicle in India within the next three years, based on its recently launched Elevate SUV.
It is important to note that Honda currently only sells sedans and SUVs in India. It has gradually phased out the hatchbacks like the Jazz and Brio from its portfolio. And now, the future plans only revolve around SUVs and EVs, making clear that new hatchbacks or sedans are not on the cards.
Honda Open To Alliances
Honda is actively exploring strategic alliances to advance technological developments and reinforce its presence in the Indian market. Honda's CEO, Toshihiro Mibe, stressed the importance of ensuring a win-win relationship with partner companies for valid alliances. While Honda's previous alliance with General Motors for affordable electric vehicles did not materialize, the company remains open to future collaborations with the aim of achieving mutual benefits.
Toshio Kuwahara, President & CEO of Asian Honda Motor Company, underlined the significance of the Indian market for Honda. He pointed out that India currently ranks seventh in the world for Honda in terms of the number of cars sold. Given the growing importance of electrification and electric vehicles in the Asia Pacific region, with India playing a crucial role, the company is placing a strong emphasis on the Indian market.
Verdict
The Japanese brand is making significant strides in the Indian market, where the demand for SUVs and electrification is on the rise. The company's strategic decision to focus exclusively on SUVs aligns with their global plan to achieve carbon neutrality by 2040. With five new models in the pipeline, including an Elevate-based EV, it aims to boost sales and remain competitive in India, which it plans to do by targeting the booming segments in the country early on. Also, If you are someone with a passion for engines mounted on wheels, you must join our Whatsapp Group Community of petrolheads to find out more exciting stuff about the Auto world.
Also, Read- Volkswagen India Inaugurates New Touchpoint In Indore: Read Details
