The next prominent product from Honda Cars in India could be the EV version of the Elevate. The Honda Elevate is the newest entrant into the mid-size SUV segment of our country. It rivals the mighty Hyundai Creta, Kia Seltos and Maruti Grand Vitara. While there are other prominent products in the category, these three are the chief volume churners. As we enter the electrification phase, carmakers are revealing their plans to introduce electric versions of their popular cars. The Creta’s EV version that is bound to launch next year is one such model. It must be noted that this is a prelude to the fully electric cars designed from the ground up. That is what Honda confirms too.
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Honda Elevate EV Launch in the Pipeline
In a recent interview, Takuya Tsumura, President of Honda Cars India, stated, “By 2030, we plan to launch five more models such as Elevate-based EV and other SUVs. With those in the market, we would be able to compete against other companies and be able to really win.” This is a clear strategy to dominate the electric car space in the country in times to come. Leveraging the popularity and appeal of the Elevate, Honda wants to sell EVs in high volumes by the end of this decade, when the charging infrastructure around EVs will be much more developed.
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It is too early to predict which powertrain configuration the Elevate EV will have. Instead, we should focus on the first half of that statement by the Honda President. In the next 6 years, there will be 5 more SUVs in the market. That indicates Honda’s belief in the continuation of the SUV story across the globe. It looks like Honda is bullish on the continuous growth of the SUV market. We have already seen how SUVs have completely taken over. A large brunt of that is borne by sedans with similar price points.
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What We Think
We understand the need for electrification as governments around the world become more serious about minimizing their carbon footprint. That is the reason why all major carmakers are working hard to develop EVs. Currently, the issues are high initial cost, a lack of charging infrastructure, range anxiety, etc. With the passage of time, all of these will be more conducive to enabling mass adoption. While that might take a lot of time, the efforts to electrify the portfolios are already underway.