Honda Motorcycle & Scooter India plans to enter the electric vehicle (EV) market within the current fiscal year, with a goal of having one-third of its total sales come from EVs by 2030. Yogesh Mathur, Director of Sales and Marketing at HMSI, revealed the company’s strategy during the 64th annual session of the Society of Indian Automobile Manufacturers (SIAM).
Mathur noted that the share of electric two-wheelers in overall sales is increasing and projected a significant shift towards EVs in the coming years. “We anticipate that by 2030, a substantial portion of our sales will come from EV models. Our target is to ensure that at least one-third of our lineup will consist of electric vehicles,” Mathur stated.
The new EV models are being developed in collaboration between HMSI and Honda’s teams. Regarding production, Mathur mentioned that the company’s plants are currently operating at full capacity. He indicated that HMSI is evaluating options to adjust production rates and potentially increase capacity, given the installed capacity of 6.2 million units per year.
When asked about the possibility of a new manufacturing facility, Mathur responded that the company is exploring various options. Mathur also expressed optimism about the upcoming festive season, suggesting it could be one of the strongest periods for the two-wheeler industry in recent years. He estimated that it would take approximately three to four years for the industry to return to the sales levels seen in 2018-19.
