Honda will increase its annual sales target to 4 million units by 2030

Japanese automaker Honda Motor Company is committing a substantial investment of Yen 500 billion (USD 3.4 billion) towards the expansion and enhancement of its electric motorcycle business by 2030.

This strategic initiative includes the introduction of 30 new electric motorcycle models worldwide by 2030, accompanied by the establishment of dedicated electric motorcycle plants set to commence operations by 2027.

The incorporation of innovative technology is anticipated to streamline assembly line processes, resulting in a notable 40 percent reduction in their length. Honda's focus for these production facilities is primarily on locations in India and Southeast Asia. With an ambitious goal of achieving price parity with internal combustion engine (ICE) models, the company is aiming to sell four million electric motorbikes annually by 2030.

In its pursuit of advancing battery technology, Honda is actively developing lithium ferro-phosphate batteries, slated for adoption in 2025. This move is aimed at accommodating a broader range of applications and expanding the variety of product offerings.

Looking ahead to the mid-to long-term, the company is committed to exploring batteries with high energy density as part of an overarching objective to slash the cost of finished electric motorcycles by an impressive 50 percent.

News by Rahul Yelligetti