Honda Cars: While the Indian customers are awaiting a boom in electric vehicles from the major car manufacturers, Honda is planning its own course to electrification. The company intends to set its flagship in electric vehicle segment in 2026-27 with a new fully electric vehicle along with solid state strong hybrid solutions, targeting to build up its niche segmentation in this constantly growing market.
Honda Car Strategy for 2026-27
Honda Cars India’s strategy up to the financial year 2026-27 was described by the company’s President and CEO, Takuya Tsumura, who said that the company would introduce three models. Out of these, one will be battery-electric vehicle related to the Elevate and the other duo are likely to wrapped as hybrids or BEVs. As part of the priority of the local managing company of the global company, it was stressed that actions will be taken to continue to launch and increase the share of electric vehicles.
The management also pointed out that there has been a decision by Honda Cars to focus on the strong hybrid rather than plug-in hybrids and range extenders because the strong hybrids are more fitting to the current setting of the IA industry. Nevertheless, more information on the hybrid lineup was not revealed by the management when announcing the future product plans.
Upcoming EV Based On Elevate
Honda Cars see strong hybrids as the most relevant product for India compared to other models like plug-in hybrids and range extenders. But, in each of them, the company has avoided divulging more information on the future of its hybrid lineup.
The first electric car based on the automotive platform of the Elevate SUV will have a separate brand name and a different look. Production is planned for Honda’s second plant in Tapukara, Rajasthan with an overall annual production of nearly one lakh and eighty thousand vehicles.
Honda Cars has stopped production at its Greater Noida plant through which manufacture of CR-V and Civic was done in 2020 unlike reopening of the plant being considered in the future but not in detail. India was envisaged as Honda’s export hub where the next electric vehicle such as the Elevate will be developed as a global model and not restricted to the City or Amaze models alone.
Surge In Export Sale
Still, the domestic sale volume remained weak, Honda Cars recorded a 25% increase in the Company’s profit before tax at ₹1,029 crore in fiscal 2023-24 with a 64% increase in export sales to 37,660 units. He stressed that company needed to introduce even more of the local versions of the future products and technologies for the success in India.
