Honda’s Upcoming Plans to Strengthen its Hold in the Electric Segment
Honda, known as Japan’s largest two-wheeler manufacturer, has revealed its upcoming plans to strengthen its presence in the electric segment. The vision plan issued by the company clearly shows that the company is set to launch 30 new electric models.
In addition to this, the company is also planning on a large scale project to reduce the price of existing bikes. An investment of 500 billion yen or 3.4 billion dollars will be made for all these tasks. It is claimed that Honda has set a target to increase its global sales to 4 million units by 2030, which was 3.5 million units last year.
Honda’s Investment Plan and Future Production
As far as the investment plan is concerned, the 3.4 billion dollars to be invested are divided into two parts. The first part is from 2021 to 2025, during which Honda will invest 100 million yen, and the remaining amount will be spent between 2026 and 2030.
The officials say that they are currently hiring ICE for their electric models. From 2027, they will be ready for a separate plant for the production of dedicated electric models. It is expected that Honda will first launch the Activa E electric variant, as it is currently the country’s number one ICE scooter.
Increasing Demand for Electric Vehicles Worldwide
These plans indicate how the demand for electric vehicles is increasing worldwide. Not only Honda, but other companies are also working in this direction. A few days ago, Mahindra and Mahindra had spoken about large investment for the manufacture of electric vehicles.
The Indian market is very important for these companies, hence it is certain that in the coming time, Indian consumers will have multiple better options.
Key Takeaways
- Honda has revealed plans to launch 30 new electric models and reduce the price of existing bikes.
- An investment of 3.4 billion dollars is planned, with the aim to increase global sales to 4 million units by 2030.
- Honda is currently hiring ICE for their electric models, with plans to establish a separate plant for electric model production from 2027.
- The increasing demand for electric vehicles worldwide indicates that Indian consumers will have multiple better options in the future.