Honda Motorcycle and Scooter India is lining up multiple products in the electric vehicle segment with the first model expected to make debut in March next year, company's Managing Director, President and CEO Atsushi Ogata said on Monday.
The company, which on Monday launched a new version of its Activa scooter which conforms to the upcoming stricter emission norms, with price starting at Rs 74,536 (ex-showroom Delhi), plans to come up with charging infrastructure to support its electric vehicle customers.
Honda Motorcycle and Scooter India (HMSI), which remains the leader in the scooter segment with a market share of 56 per cent, is also looking to consolidate its position in the motorcycle segment with the introduction of a 100 cc bike next month.
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The company is looking to consolidate its position in the rural and semi urban markets with the introduction of the bike.
"We are looking to launch the first electric model in March 2024... it is being developed on a completely new platform and is based on the requirements of the Indian market," Ogata said on the sidelines of the launch.
The first model next year would have a fixed battery while the second one would come with a swappable battery system, he said while outlining the details about the upcoming products.
Ogata said the company is considering utilising its existing sales infrastructure of over 6,000 outlets to set up charging infrastructure for its EV range and later depending on the market situation would take a call on expanding it further.
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When asked about the launch timelines for the EV product range, he said: "It will not be far away from the launch of the first model. So in a very short period, we will launch new products."
On the company's plans to introduce an electric version of its Activa scooter, Ogata said: "...The concept is futuristic Activa."
When asked about the company's late entry into the EV segment as compared to the competition, Ogata noted that the company focussed on "making the company's constitution strong in the last three years".
"Now we are through with it and since last year we started on the EV business... once we enter this additional business in India it is not for short term, it is for long term...,"Ogata said.
He did not share the amount of investments being done on the EV business but added that the highest investment is going towards development of the motor system.
When asked about the domestic two-wheeler market, Ogata said he expects the segment to again hit the peak of 20 million volumes in the next five years.
He noted that various factors like the COVID pandemic and increase in model prices due to enhanced commodity prices led to the dip in the overall volumes for the company.
When asked if the company still believes that it can take the leading spot in the domestic two-wheeler market, Ogata said: "Theoretically yes... But we do not know what they (Hero MotoCorp) are thinking ...what is their plan of products...finally it is the customer who decides the market share..."
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He noted that one vertical where the company lacks currently is the entry level bike segment, where it plans to bring in a model next month.
Ogata also sought government support in terms of incentives for the industry in terms of taxation.
He noted that by June end this year most of its product range would become on board diagnostics (OBD 2) compliant.
The new Activa (110cc) is compliant with on board diagnostics (OBD 2) and is being offered in three trims tagged at Rs 74,536, Rs 77,036 and Rs 80,537.
Ogata said the Activa has undergone multiple avatars to meet the ever-changing expectations of customers.
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"Today we unveil the new OBD2-compliant Activa with a host of segment first features offering more value to the customers," he added.
From April this year, vehicles will need to have an on-board self-diagnostic device to monitor the real-time driving emission levels. The device will constantly monitor key parts for meeting emission standards such as the catalytic converter and oxygen sensors, to keep a close watch on emissions.
In a scenario where the emissions exceed the parameters, the device will indicate through warning lights that the vehicle be submitted for a service.
The new Activa comes with various new features like the smart key which enables the customer to easily locate the vehicle.
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