Honda, one of the leading two-wheeler giants, is set to make a groundbreaking entry into the electric motorcycle segment. With a clear vision for the future, Honda has confirmed its plans to launch an electric motorcycle equivalent to 110-125 cc commuters in India in 2024. This exciting development is part of Honda’s new motorcycle electrification strategy, which involves a staggering investment of $3.4 billion by 2030 for product development and innovation.
Honda’s EV Plans for India
Honda’s journey towards a greener future began earlier this year when it announced its electrification plans for India. The company promised to introduce two electric offerings equivalent to 110-125 cc motorcycles. The first step in this direction will be the launch of two electric scooters, followed by the much-anticipated electric motorcycle. The electric motorcycle will feature swappable batteries, providing riders with a convenient and efficient solution.
EVs Made in India?
With its growing demand for electric vehicles, India is strategically positioned as a pivotal market for Honda’s electrification strategy. Honda plans to manufacture the electric motorcycle in India at its existing production facility. This move not only highlights Honda’s commitment to the Indian market but also showcases India’s potential as a manufacturing hub for electric vehicles. The motorcycle will be launched in India first, followed by other Asian markets, Japan, and Europe.
Reducing Costs and Optimizing Production
Honda aims to make electric motorcycles more accessible to the masses by reducing costs. Through various measures, the company plans to achieve a 50% cost reduction in finished electric motorcycles. These include optimising battery technology, adopting modular platforms, and streamlining production and procurement processes. Additionally, the new assembly lines for electric motorcycles will be 40% shorter compared to internal combustion engine (ICE) vehicles, enhancing efficiency.
Revamping Supply Chains and Achieving Goals
Honda plans to significantly adjust its supply chains to achieve the ambitious target of selling four million electric motorcycles by 2030. By optimising production and procurement processes, Honda aims to achieve a 10% operating profit margin while ensuring the availability of high-quality electric motorcycles for consumers worldwide.
Advancements in Battery Technology
Honda acknowledges the significance of battery technology in the success of electric motorcycles. The company is actively improving battery technology to enhance performance and range. Going forward, Honda will utilise LFP (lithium iron phosphate) battery cells alongside NMC (nickel manganese cobalt) lithium-ion batteries currently used in their electric offerings. This approach ensures optimal performance, reliability, and safety for riders.
Conclusion
Honda’s foray into the electric motorcycle market represents a significant milestone in the automotive industry. With its commitment to innovation, Honda aims to revolutionise the two-wheeler market and lead the way towards a sustainable future. Launching an electric motorcycle in India and its ambitious global plans showcases Honda’s determination to provide eco-friendly and efficient mobility solutions. As the world embraces electric vehicles, Honda is poised to be at the forefront of this revolution, delivering exciting and reliable electric motorcycles to riders worldwide.
