Honda Cars India is set to revolutionise the Indian automotive market with plans to launch over 10 new models by 2030, including a strong focus on electric vehicles and compact SUVs, as India emerges as a pivotal market in Honda's global growth strategy.
Key Points
- Honda Cars India plans to launch more than 10 new models in India by 2030, including electric vehicles and compact SUVs.
- India has been identified as one of the top three focus markets for Honda's global growth strategy, alongside North America and Japan.
- The company will introduce its first full electric vehicle in India in the second half of the current fiscal year.
- Honda will focus on the sub-4-metre and mid-size segments, offering a variety of powertrains including ICE, hybrids, and battery electric vehicles.
- Six strategic launches are planned for the current fiscal year, beginning with the new City hybrid and the ZR-V SUV.
Japanese automaker Honda plans to drive in over 10 new models, including electric vehicle and compact SUV by 2030 in India, one of the three key markets it has identified for its future growth plans, according to a senior company official.
Honda Cars India Ltd (HCIL) on Friday launched the new version of its popular hybrid sedan City with introductory prices starting at Rs 11.99 lakh while also unveiling its premium SUV ZR-V in India.
It will launch its first full electric vehicle in the second half of the ongoing fiscal in the country, HCIL President and CEO Takashi Nakajima told reporters here.
Honda's Ambitious Product Pipeline
"Recently we announced that we will be launching new models under two categories, that is, under 4 metres and the midsize category.
"Last time, in Japan, we mentioned ten (models) but currently, we are counting more than ten (models)," Nakajima said when asked how many new models Honda planned to launch in India going forward by 2030.
In the ongoing fiscal, HCIL plans a total of six launches, including the City hybrid and the ZR-V hybrid, he said adding the launch of new City and unveiling of ZR-V mark the beginning of HCIL's new phase of accelerated growth in the market.
"India is among the top three focus markets to realise Honda's future growth, which will be driven by a strong pipeline of new products and our efforts to achieve cost competitiveness," Nakajima said.
He further said,"This year is a landmark year for us with six strategic launches that will sharpen our competitive edge and reinforce our brand position in the market."
Strategic Focus on India
Honda Motor Co had last week announced that it would start introducing models tailored to the Indian market from 2028 and leverage on its two-wheeler business to upgrade customers to passenger vehicles as part of rebuilding of its automobile business and the future direction.
The company has positioned India along with North America and Japan as priority markets for its future growth strategy and decided to strategically allocate its resources to these markets.
From 2028, the company will begin introducing strategic models tailored to the Indian market in two vehicle categories -- category for vehicles under 4 meters in length and the mid-size category.
When asked how much of the new models will be India-specific models, Nakajima said it will be a mix of both India-specific along with fully imported global models, like the ZR-V SUV.
He said Honda is looking to participate in the two fastest growing segments, sub 4 metres and the midsize, in India with a variety of powertrains ranging from internal combustion engine (ICE), hybrids to battery electric vehicles.
Nakajima said with a clearer direction of a multi technology pathway policy seen in India, the company has decided to focus on the two segments.
This year the company is looking at "double digit" growth in India, Nakajima said.
HCIL officials said the company is not looking to enter the hatchback segment and its sub-4 metre vehicles would be primarily compact SUVs.
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