Strengthening Electrification and the Corporate Structure
At a press conference held in Tokyo, Japan, on November 29, 2023, Honda Motor Co., Ltd. unveiled its ambitious initiatives for its electric motorcycle business. The company, represented by Katsushi Inoue, Senior Executive Officer, and Daiki Mihara, Head of the Electrification Business Development Unit, outlined a strategic plan to accelerate the electrification of motorcycles and strengthen its business structure.
Global Goals for 2030
Honda has revised upward its ambitious global annual sales target for electric motorcycles for 2030, setting a new goal of 4 million units. This adjustment, which adds 500,000 units to the target announced in 2022, reflects the company’s commitment to making electric motorcycles more widely available.
The company plans to launch 30 electric models worldwide by 2030, marking a significant expansion of its product portfolio in this segment. This strategy aims not only to meet the growing demand for electric vehicles but also to lead the industry in innovation and model diversity.
Cost Reduction and Increased Profitability
Honda is committed to advancing cost-reduction initiatives with the ambitious goal of cutting the current cost of electric motorcycles by 50%. This measure will not only make electric vehicles more affordable for consumers but will also strengthen Honda’s competitive position in the market.
To support these initiatives, the company plans a substantial investment of 100 billion yen from 2021 to 2025. In addition, an additional investment of 400 billion yen has been announced for the period from 2026 to 2030, bringing the total investment to 500 billion yen. These funds will be used to improve production infrastructure and global capacity, thereby ensuring an effective transition to electrification.
Innovation in Manufacturing and Connectivity
Leveraging its expertise in developing internal combustion motorcycles, Honda aims to make further strides in the manufacture of electric motorcycles. The modularization of the platform—which allows for the separation of the battery, power unit, and chassis—will enable greater production efficiency and a wide range of model variations.
Connectivity will be an integral part of the Honda riding experience. This advanced connectivity is expected to enable post-purchase software updates—including the addition of new features—using technologies such as OTA (over-the-air).
New customer touchpoints
To improve customer convenience, Honda will launch online sales that will allow customers to purchase motorcycles without visiting a physical dealership. In addition, the company will establish “Experience Centers” in major cities across India, ASEAN, and other countries, where customers can immerse themselves and experience the value Honda aims to deliver through its electric motorcycles.
Future Outlook and Conclusion
With a vision of becoming “The Power of Dreams” for more people, Honda is determined to be the driving force that propels people and society forward. These initiatives are expected to position Honda as a leader in the electric motorcycle business, providing a wide range of innovative and sustainable options for consumers. Stay tuned for the exciting electric motorcycles Honda will deliver in the coming years. The future of electric mobility has arrived with Honda!