Honda Motor Co., Ltd., as part of its worldwide initiatives to attain carbon neutrality by 2050, will expedite the electrification of vehicles and maintain its investments in India, a crucial market for its future development strategy.
During a meeting with media personnel visiting Honda Motor’s Tokyo headquarters, President and CEO Toshihiro Mibe expressed the company’s willingness to engage in partnerships and global collaborations with other firms, provided they offer mutually beneficial opportunities, especially in light of recent advancements in the mobility sector.
“Our strategy is to achieve carbon neutrality by 2050. To achieve that, we have milestones set for 2030–35 and 2040…For Honda, the Indian market is a big market, and it is the market where electrification is rapidly progressing for both cars and two-wheelers,” Honda Motor’s CEO Mibe said.
Mibe further responded to a question concerning the potential for international alliances such as those between Toyota and Suzuki and Renault and Nissan, asserting that “what we believe is that as long as we can ensure the win-win relationship between the two companies, I think the alliance is valid,” reports add.
Meanwhile, President and CEO of Asian Honda Motor Co. and Head of Regional Operations (Asia & Oceania), Toshio Kuwahara, emphasised the importance of India by saying that due to its size, the Indian market is significant to them, and it is now ranked seventh globally in terms of units sold for them.
After reorganising its operations in India, Honda announced in June this year that it would introduce five new Sport Utility Vehicles (SUVs)—including one that is entirely electric—in the country by 2030 in an attempt to turn around its fortunes. SUV sales in India have been the fastest-growing segment of the passenger vehicle market.
The company recently unveiled its mid-sized SUV Elevate, one of the five models. According to The Week, Honda has halted production at its Greater Noida business unit as part of the restructuring process and has given staff voluntary retirement plans. It currently produces automobiles at the Tapukara facility in Rajasthan.
In addition, Honda Cars India Ltd. President and CEO Takuya Tsumura said that the company’s goal is to introduce a battery-electric car within the next three years when questioned about investments in the new launches and the electrification project.
Tsumura also said that they intend to keep moving forward and advance their electrification, according to ET Energyworld.com. Regarding powertrains and Honda’s acceleration of electrification in India, he added, the business would adhere to its worldwide strategy.
