Honda is set to exclusively roll out SUVs in India, focusing on electric vehicles (EVs) as part of its strategy to achieve carbon neutrality globally by 2040. CEO Toshihiro Mibe outlined milestones for 2030, 2035, and 2040, emphasizing the rapid electrification progress in the Indian market for both cars and two-wheelers. The company plans to launch its first full EV in India within three years, based on the recently unveiled Elevate SUV.
Honda aims to introduce five more models by 2030, including the Elevate-based EV and additional SUVs, aiming to enhance its competitiveness and secure market share. The discontinuation of hatchbacks Brio and Jazz signifies a strategic shift, with a focus on sedans like Amaze and City alongside the upcoming EVs.
The significance of the Indian market was underscored by Toshio Kuwahara, president & CEO of Asian Honda Motor Company, as it ranks seventh globally in terms of cars sold, excluding China. Honda expressed openness to alliances for technological advancements, echoing the terminated collaboration with General Motors on affordable EVs. Mibe clarified that alliances are not limited to GM, emphasizing the potential for diverse partnerships based on mutual benefits.
Honda’s commitment to India includes plans for an all-electric SUV launch within three years, supported by fresh investments for the introduction of five new models. While specific investment details remain undisclosed, Honda Cars India aims for a 35% sales growth in the second half of the fiscal year with the Elevate SUV leading the charge.