This story is from September 10, 2024
Honda's first EV two-wheeler in FY25: Electric Activa on cards?
The electric vehicle market in India continues to gather momentum, with a notable surge in the two-wheeler segment - especially in the electric scooter category. Amid this development, Japanese manufacturer Honda Motorcycles & Scooter India is preparing to make its debut in the electric two-wheeler market by the end of FY 2024-25. Despite having a major market share in the ICE motorcycle and scooter market in India, the company is yet to introduce an electric two-wheeler.
Yogesh Mathur, Director of Sales & Marketing at HMSI, shared the company’s intent to debut in the EV during the 64th annual session of the Society of Indian Automobile Manufacturers Association. While the company has not yet disclosed whether the upcoming model will be an electric scooter or a motorcycle, the growing demand for electric scooters suggests that an electric scooter is on the cards. Given the strong brand presence and recognition of the Activa in India, an electric variant could mark a pivotal moment for the company in the EV space.
Besides that, the company will also be launching the flex-fuel powered CB300F, which was showcased at the Bharat Mobility Show earlier this year. It will run on up to 85 percent ethanol-blended fuel.
Honda’s entry into the electric segment comes at a time when the two-wheeler industry in India is undergoing substantial growth, exceeding initial forecasts. The industry was projected to grow by 10-12 percent this year; however, it has already seen a robust 16 percent increase. Within this, scooters are witnessing a faster growth rate at 24 percent, compared to motorcycles at 13 percent.
As Honda prepares to launch its first EV model, Mathur highlighted the company’s open-minded approach to future fuel types. Honda is exploring various options, including EVs, flex-fuel, and other alternative fuels, signaling a versatile strategy in an increasingly diverse market. This adaptability will be crucial as the company plans for one-third of its lineup to be electric by 2030. At present, the electric two-wheeler market is growing by the rate of 8 percent annually.
Honda’s entry into the electric segment comes at a time when the two-wheeler industry in India is undergoing substantial growth, exceeding initial forecasts. The industry was projected to grow by 10-12 percent this year; however, it has already seen a robust 16 percent increase. Within this, scooters are witnessing a faster growth rate at 24 percent, compared to motorcycles at 13 percent.
As Honda prepares to launch its first EV model, Mathur highlighted the company’s open-minded approach to future fuel types. Honda is exploring various options, including EVs, flex-fuel, and other alternative fuels, signaling a versatile strategy in an increasingly diverse market. This adaptability will be crucial as the company plans for one-third of its lineup to be electric by 2030. At present, the electric two-wheeler market is growing by the rate of 8 percent annually.
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