The first electric vehicle to be launched by Honda will be the Activa Electric, with a production target of 1.5 lakh units for next year.
Honda Motorcycle and Scooter India is all set to make its grand entry into the EV market. The company plans to introduce ten electric two-wheelers by 2031, catering to the entire spectrum of zero-emission vehicles in the future.
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According to sources, the automaker plans to offer multiple powertrains, body types, and speed categories. The company has been working on this plan for over two years and will offer products in both fixed and swappable battery options.
Having said this, two of the projects codenamed – K4BA and GJNA are already in the works. One might be a moped that will offer a swappable alternative. While the other one is Activa Electric that will come with a fixed battery. We can further expect the Activa Electric to hit the roads anytime soon in March 2024 followed by the other model in September 2024. Honda further plans to introduce other models by 2026-27. The brand plans to produce 1-1.5 lakh units of both models in the first year. But the company might increase the production to about 5 million units in FY24 in the mainstream markets.
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Furthermore, Honda Power Pack Energy India Private Limited (HEID) has already established a strong base in Bangalore in order to support swappable battery alternatives. HEID set its base by establishing 70 swapping stations in Bangalore. Besides establishing itself in the domestic markets, Honda plans to ship EVs to global markets as well. Atsushi Ogata, the president of Honda Motorcycle & Scooters India, has defined a roadmap to expand the addressable market for the Japanese two-wheeler major, which includes venturing into the EV space.
Besides this, Ogata expects the penetration of EVs to be in the range of 15-25% by the end of the decade, and Honda has defined its roadmap based on these forecasts. However, the electric vehicle penetration has already crossed 5-7% of the overall two-wheeler market that is led by new-age startups and seasoned players alike.
