"Honda Announces EV Investment and Unveils Plan to Introduce 5 SUVs in India"

Honda Motor Company has set its sights on the Indian electric vehicle (EV) market, announcing plans for significant investments and the launch of new electric SUVs within the next three years.

Toshihiro Mibe, President, and Representative Director of Honda Motor Company Ltd, revealed the company's ambitious goals during a press briefing at the global headquarters in Tokyo. The primary objective is to introduce electric vehicles to the Indian market over the coming three years, with substantial investments earmarked for this purpose.

Honda has crafted a comprehensive growth strategy, complete with specific milestones for 2030 and 2035, emphasizing the company's commitment to long-term development. Mibe noted that a region-specific strategy would also be devised, recognizing the substantial potential of the Indian market, particularly in the rapidly evolving electric car and motorcycle segments.

Furthermore, Honda is open to forming global alliances with industry partners for both four-wheelers and two-wheelers. Mibe emphasized the company's belief in the benefits of alliances, provided they are mutually advantageous. The existing collaborations reflect this commitment. Notably, Honda, in partnership with GM and Cruise, is planning to launch a driverless ride-hailing service using the Cruise Origin vehicle in Japan in early 2026.

In terms of market size, India ranks 7th for Honda, and the company is keen on expanding its presence. In addition to the two sedans already available in India, Honda has introduced the Elevate, an Urban SUV. Takuya Tsumura, President & CEO of Honda Cars India, announced plans to launch a new EV version of the Elevate within the next three years, building on its existing success.

Tsumura emphasized the potential of the Honda Elevate to become a key driver of the company's business in India, offering compelling value to an evolving customer base. By 2030, Honda envisions bringing four more electric SUVs to the Indian market, reflecting its commitment to staying at the forefront of the EV revolution.

Honda's investment decisions and strategic initiatives will be closely aligned with the evolving landscape of the Indian market, ensuring a dynamic response to the opportunities that arise in the electric vehicle sector.

HBL