Last Updated on October 31, 2023 by SPN Editor
Honda Motor Company is eyeing the Indian electric vehicle (EV) market with a substantial plan for investments and the introduction of new electric SUVs in India over the next three years. During the global unveiling of the Honda Elevate, the Japanese automaker revealed its intentions to launch five new SUVs in India by 2030, including the Elevate and its all-electric counterpart. Following the release of the Elevate and Elevate EV SUVs, Honda has three more SUVs in India in the pipeline, with a phased rollout planned by 2030.
Toshihiro Mibe, President and Representative Director of Honda Motor Company Ltd, presented these goals during a press briefing at the global headquarters in Tokyo. The primary objective is to bring electric vehicles to the Indian market within the next three years, with significant investments allocated for this purpose.
Tsumura emphasized the potential of the Honda Elevate to become a key driver of the company’s business in India, offering excellent value to an evolving customer base. By 2030, Honda envisions introducing four more electric SUVs in India, reaffirming its commitment to leading the way in the EV revolution.
Honda has developed a comprehensive growth strategy with specific milestones for 2030 and 2035, underscoring the company’s commitment to long-term development. Mibe emphasized the creation of a region-specific strategy, recognizing the immense potential of the Indian market, especially in the rapidly evolving electric car and motorcycle sectors.
Furthermore, Honda is open to forming global partnerships with industry collaborators for both four-wheelers and two-wheelers, believing in the mutual benefits of such alliances. Notably, Honda is partnering with GM and Cruise to launch a driverless ride-hailing service in Japan using the Cruise Origin vehicle in early 2026.
India is currently the 7th largest market for Honda, and the company aims to expand 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 electric version of the Elevate within the next three years, building on its current success.
These offerings may include the new WR-V B2-segment SUV and the CR-V 3-row family SUV. Furthermore, Honda may consider the Elevate e:HEV, likely featuring a robust hybrid powertrain, as a distinct SUV offering to further expand its future lineup.
According to Honda’s vision, battery electric vehicles (BEVs) and fuel-cell electric vehicles (FCEVs) will constitute 100% of the carmaker’s sales by 2040, including the Indian market. In the coming years, Honda is expected to initiate research and development of BEVs and FCEVs tailored to the Indian market’s specific requirements.
Honda’s investment decisions and strategic initiatives will closely align with the evolving electric Vehicles future of the Indian market. While specific segments for these SUVs in India haven’t been disclosed by Honda, it is anticipated that the carmaker will introduce its global SUV offerings to the Indian market.