Honda To Launch Electric Scooter In FY25

Honda To Launch Electric Scooter In FY25

Honda Motorcycle & Scooter India (HMSI) is preparing to enter the electric scooter market soon. This comes at a time when several two wheeler automobile companies in India have started to penetrate the electric vehicle market with newer products.

Yogesh Mathur, Director of Sales and Marketing of Honda Motorcycle announced that the automobile maker has plans to unveil its electric scooter within this fiscal year (FY25). This move comes as the two wheeler company remained one of the last major players to join the expanding two wheeler EV market in India.

Mathur highlighted the rapid growth in the electric vehicle (EV) market in the country. Last year, EVs made up about 5% of the total scooter sales. This year, their share has risen to approximately 8%. Looking ahead, Mathur projected that by 2030, EVs will account for one-third of HMSI’s total sales.

On late entry into the EV market 

Mathur also addressed concerns about Honda being late to the EV market. He explained that the company had previously focused on other priorities, such as launching the Shine 100 motorcycle, which has been well-received and contributed significantly to their growth. In its latest sales data, the company had talked about the increased share of Honda shine in the Indian market, surpassing the sales of other models of the company.

Recently, Union Minister Nitin Gadkari expressed optimism about India’s future in the automotive sector. At the annual Society of Indian Automobile Manufacturers (SIAM) convention, Gadkari forecasted that India’s EV market could reach 10 million units in annual sales by 2030. This expansion is expected to generate up to 50 million jobs. Additionally, Gadkari hopes India will become a leading global automotive manufacturing hub. The minister also said that in the days to come the sales prices of EVs could soon be at par with fossil fuel-based vehicles in the country.

According to Gadkari, the total EV market in India could be valued at 20 trillion rupees by 2030, with the EV finance market estimated at 24 trillion rupees. These developments signal a shift towards electric mobility in India, with major industry players like HMSI gearing up to capitalize on this growing trend.