Honda Cars India is planning to retool its Tapukara plant in Rajasthan to produce electric vehicles (EVs) from 2024. The company has not yet announced the specific investment amount, but has confirmed that it will be significant.
Honda Cars India to commence EV retooling in 2024
The retooling of the Tapukara plant is part of Honda’s global electrification strategy. The company has already announced plans to invest 5 trillion yen (approximately INR 3.5 lakh crore) in EVs and autonomous vehicles over the next six years. In India, Honda is targeting a 10% market share in the EV segment by 2030. The company is also planning to increase production capacity at the Tapukara plant to meet domestic and export demand.
The first EV from Honda’s Tapukara plant is expected to be an SUV based on the Honda Elevate concept. The Elevate was first unveiled at the 2021 Tokyo Motor Show and is a rugged SUV with off-road capabilities. Meanwhile, the Honda Elevate EV is expected to be launched in India in 2025. The company has not yet announced any pricing details, but the EV is expected to be priced at a premium.
Honda Cars India is also planning to launch new models in India every year. The company is currently working on a new sedan and a new SUV, which are expected to be launched in 2024. Honda’s investment in EVs and its plans to launch new models every year are a positive sign for the Indian automotive industry. The company’s commitment to electrification will help to accelerate the adoption of EVs in India.
Honda’s EV plans in India
Honda Cars India has been relatively slow to enter the EV segment in India. The company launched its first EV, the Honda e, in 2020, but the car is only available in select markets. However, Honda is now accelerating its EV plans in India. The company has invested in its Tapukara plant to produce EVs and is planning to launch new EV models in the coming years.
Honda’s first EV from the Tapukara plant is expected to be an SUV based on the Honda Elevate concept. The Elevate is a rugged SUV with off-road capabilities and is expected to be priced at a premium. Honda is also planning to launch a new sedan and a new SUV in India in 2024. Both cars are expected to be powered by internal combustion engines, but Honda could also offer hybrid or electric versions of these models in the future.
Also Read – Honda sold 9,861 cars in September 2023.