Honda Cars India revealed plans to introduce five new SUVs in India by the year 2030, during the launch of the Elevate SUV. Also, reports suggest that the brand’s first electric SUV is likely to be based on the Honda Elevate. This will also align the company with its strategy of converting ICE powered cars into EVs.
Now reports suggest that under the ACE project Honda is likely to turn India as an exports hub for electric vehicles. ACE which stands for “Asian Compact Electric” is likely to be ready as soon as 2026. Project ACE will also allow the brand to export 50 to 70 per cent of the vehicles produced in India to overseas markets, including Japan.
According to media reports, the new Honda electric vehicle based on the ICE Elevate SUV is likely to be developed in India. The Elevate EV could be codenamed DG9D and may have an annual volume of 1 lakh units. However, no confirmation of the same has come through from HCIL due to the confidentiality of the product. If Honda introduces the Elevate EV it will directly compete with the rumoured Hyundai Creta EV. The Creta EV is also likely to be based on the ICE Creta sharing most mechanical components.
Honda is also planning to retool its Tapukara production facility for EV manufacturing. The Rajasthan factory is likely to commence production as soon as 2024 and the company could be looking at additional investments to improve the capacity and cope up with the volume of exports.
The retooling of the Tapukara plant will also benefit Honda improve sales. This will prove helpful not only for the domestic market but export products to various international markets as well. Reports suggest that the company’s exports from India are likely to be two folds by 2025. The ACE project will further add 30 to 40 percent of the total output.
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