Honda To Launch New Electric Bike In India By 2024; Aims To Make Country Hub For Manufacturing E-Bikes

Honda Global has officially announced that it is planning to introduce an electric motorcycle in India that will target the 110-125 cc commuter segment. Honda Global will launch this electric motorcycle in the country next year. This announcement is part of Honda Motor Co's new electrification strategy for which the company has allocated a substantial $3.4 billion investment by 2030 for development of new products. Additionally, the two-wheeler giant has also increased its global sales target as it now aims to sell 4 million electric motorcycles by 2030, up from the initial 3.5 million.

ALSO READ: Tata All Set To Expand EV Lineup In India By Launching THESE Five New Electric Cars | See First Pics Here

It is expected that Honda's electric motorcycle will be produced at the company's current manufacturing facility in India. This electric motorcycle will first be launched in India followed by other ASEAN markets, Japan and Europe. Earlier this year, Honda revealed its electrification plans for India. They plan to deliver two electric models equivalent to 110-125 cc bikes in the country. Among these electric bikes, one bike will include a fixed battery, while the other model will be equipped with swappable batteries.

Talking about this announcement, Daiki Mihara, Executive Officer - Honda Motorcycle and Power Products Electrification Business Development Unit said, “Next year 2024, we will launch an electric motorcycle with swappable batteries starting in India and followed by ASEAN, Japan and Europe.” Additionally, he added that Honda Global plans to establish an exclusive electric motorcycle plant in India, followed by another facility in the ASEAN region. Honda's goal is to cut the cost of finished electric motorcycles by 50 per cent which can be achieved through battery optimization, modular platforms and streamlining production and procurement processes. 

ALSO READ: JSW Group Partners With SAIC Motor To Acquire 35% Stake In MG India

Honda's operations in India will be pivotal in the company's motorcycle electrification strategy in the coming years. The company will use its current facilities to manufacture electric motorcycles until 2027. After 2027, Honda plans to establish a special plant for electric motorcycles to produce crucial components in-house to reduce costs. These new plants are expected to have an annual production capacity of around one million units per plant. These new plants will require an investment of 50 billion yen (approximately ₹2,800 crore) for each facility.