Honda, the largest manufacturer of two-wheelers in the world, unveiled its Unicorn model, its first motorcycle to ever enter the Indian market. The Unicorn features a four-stroke 150cc engine and will be priced at around Rs 50,000.

Honda Motor Scooter is also eyeing the domestic three-wheeler market to add another set of wheels to its product portfolio, says Business Standard.

Sources said the company had approached the Automotive Research Association of India for road tests of the vehicle, which has been specially developed for India. Like its debut in the scooter market in 2001, this is another attempt by the Japanese giant to get a foothold in the Indian automobile market, without stepping on the toes of its ally Hero Honda.

According to its arrangement with Hero Honda, Honda Motor Scooter has kept away from the former's traditional stronghold, the 100-125cc segment. Industry observers confirm that Honda Motor Scooter is targeting the passenger carrier segment, which constitutes more than 60 per cent of the total three-wheeler sales in the country.

With its foray into the passenger carrier segment, Honda will take on traditional three-wheeler giant Bajaj Auto, which still has a stranglehold in the market.

Honda Motorcycle & Scooter India (HMSI) President and CEO, Haruo Takiguchi (L), HMSI Managing Director Yukihiro Aoshima (2nd L), Director Honda Motor Japan Suguru Kanazawa (2nd R) and Moto Grand Prix rider of the Respol Honda team Alex Barros, unveil a Honda 'Unicorn' in New Delhi on Wednesday. Photo: Raveendran / AFP / Getty Images