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    Honda Cars India to go the EV way, but Honda EV models launch is far away

    by contentdeveloper on Wednesday, Oct 18 2017

    The global auto industry is moving towards high electrification owing to the constant push from various governments. All auto majors of the world are focusing on new advanced EV technology, so that they don’t lose out on EV market that is supposed to be become massive in future. The Indian car market is no place for electric vehicles yet. However, the Indian government has a vision of making the Indian auto industry fully electrified by 2030. Thus, several auto majors are now considering EV technologies that would suit the Indian market. Japanese auto giant Honda is also considering the same and is planning for the future electrified Indian car market.

    The global auto industry is moving towards high electrification owing to the constant push from various governments. All auto majors of the world are focusing on new advanced EV technology, so that they don’t lose out on EV market that is supposed to be become massive in future. The Indian car market is no place for electric vehicles yet. However, the Indian government has a vision of making the Indian auto industry fully electrified by 2030. Thus, several auto majors are now considering EV technologies that would suit the Indian market. Japanese auto giant Honda is also considering the same and is planning for the future electrified Indian car market.

     

    The Japanese company’s fully owned Indian subsidiary, Honda Cars India has recently stated that it has started working on its strategy for electric vehicle (EV) in India. However, Honda India also said that it will not launch any electric car models in the domestic market in near future and its planning is in primary stage.

    When speaking on this development, the senior vice president, marketing & sales at Honda Cars India Jnaneswar Sen said that the company has the EV technology ready and are active in global EV segment. The company has just started planning its EV strategy for India, as it is in a primary stage the company will not be launch any EV in the near future in India.

     

    As per the company, a market like India offers several challenges to the EV segment like affordable pricing, consumer’s readiness for adoption and battery issues and more which need to be sorted first.

    Sen added by saying that the Indian EV segment has several challenges. EVs are expensive, buyers’ willingness to accept is a big question, thus, the EV models’ costs should be made affordable. Battery recharging time and recharging infrastructure are also a challenge in India.

    Honda Motor’s global strategy is to make two-thirds of its total vehicles to be electrified by 2030. Honda is planning big to launch EVs in the large EV markets such as China and Europe by next year. However, the Honda EVs will take considerable time to come to India.

     

    Honda Cars India has big plans to grow in India, but how much are its EVs a part of its growth strategy that is not known. The company acquired around 380 acres of land in Gujarat earlier this year, but it has not revealed many details about the deal.

    In the meantime, the company is witnessing good growth in the country. Honda Cars India has recorded a great cumulative growth of more than 22 percent in first half of the financial year of 2017-18 (April to September 2017). The company has sold 91,269 vehicles, up from 74,855 units in the same period of time in 2016. Experiencing strong sales during the ongoing festive season, Honda India has also recorded domestic sales increase of 21 percent last month by selling 18,257 vehicles.


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