Honda to rival Ather Energy in India's electric-two wheeler market
Honda Motorcycle & Scooter India (HMSI) has announced its plans to venture into the electric vehicle (EV) sector within this financial year. It will rival Ola Electric and Ather Energy, among others. The company's Director of Sales and Marketing, Yogesh Mathur, revealed this strategy during the 64th annual SIAM session. He also highlighted that HMSI expects a third of its total sales to come from EVs by 2030.
Honda anticipates major shift toward EVs by 2030
Mathur emphasized the increasing significance of electric two-wheelers in the overall sales. He stated, "What we understand is that by 2030 there will be a major shift toward EVs and we have announced that by 2030 in our lineup also..one-third at least will be coming only from EV models." This statement underscores HMSI's commitment to aligning its product lineup with market trends.
HMSI's EV model: A collaborative effort
The upcoming EV model from HMSI will be a result of a collaborative effort between the company and Honda teams. This joint venture underscores the firm's commitment to innovation and sustainability in its product development. Mathur also confirmed that all of HMSI's plants are currently operating at full capacity, with an installed production capacity of 62 lakh units per year.
HMSI considers new manufacturing facility
Mathur revealed that HMSI is considering the possibility of establishing a new manufacturing facility. He stated, "We are studying those options. So all those options are also in pipelines." Regarding sales expectations for the festive season, Mathur expressed optimism that it could be one of the best years for the two-wheeler industry. However, he estimated a three to four-year timeline for industry sales to return to their 2018-19 peak levels.
