HONDA HONDA MOTOR CO

Ola Electric, leading patent publisher, plans Rs 5,500 crore IPO, focusing on EV industry and innovation. R&D centers in India, the UK, and the US. Emphasizes EV technology and international patents, with Rs 1,600 crore allocated for R&D.

Sony Honda Mobility will roll out a sedan in 2025, a sports utility vehicle in 2027 and a compact some time in 2028 or after in a bid to compete with Tesla, the Nikkei reported without citing its sources.

Once considered a luxury feature, currently more than one out of every four cars sold in the local market is equipped with a sunroof, up from just about 7% five years ago. In models where the feature is available, sales are even higher at 55%. Be it premium hatchbacks, sedans or fast-moving sport-utility vehicles, demand for sunroofs is on the rise in a predominantly tropical country.

Jawa Motorcycles has launched the updated Jawa 350 with a starting price of Rs 2.14 lakh, ex-showroom. The new model features a larger 334 cc engine, six-speed gearbox, assist and slipper clutch, and improved performance. The motorcycle also comes with a new dual-cradle chassis, increased ground clearance, and dual-channel ABS.

The Consumer Electronics Show (CES) 2024 showcased groundbreaking electric vehicle (EV) concepts. Honda debuted the Saloon and Space-Hub models from its 0 Series. Kia revealed its Platform Beyond Vehicle (PBV) strategy with the Concept PV5, Concept PV7, and Concept PV1. VinFast Auto presented the VF Wild, an eco-friendly and innovative electric pickup truck. Hyundai introduced the MOBION EV with advanced 'e-Corner System' motion technology.

Japan's second-biggest car maker has been slow to step up sales of electric vehicles. Battery powered vehicles accounted for less than 0.5% of Honda's worldwide sales of about 2.8 million cars over the first nine months of 2023, according to company data.

The project could be one of Honda's largest investments, the report said. The Japanese automaker is looking at multiple potential sites for the plant, including next to an existing automobile factory in Ontario, Nikkei said, adding that Honda expects to come to a decision by the end of the year and the new plant to start as soon as 2028. Honda did not immediately respond to a Reuters request for comment on the report.

Sales of cars, sedans, and utility vehicles in India reached a record four million units in 2023, marking an 8.2% increase from the previous year. The industry saw a 4.4% growth in dispatching 287,904 units from factories to dealerships, the highest-ever reported for December. Retail sales were also higher at 442,800 units, bringing down stocks in the industry.

Maruti Suzuki, Mahindra & Mahindra and Audi India have also announced plans to hike prices of their passenger vehicles in January 2024 citing reasons, including cost pressure driven by overall inflation and increased commodity rates.

The Indian government has identified elevated fleet emission levels in leading car manufacturers, including Hyundai, Kia, Honda Cars, Renault, Skoda Auto, Volkswagen India, and Nissan, exceeding prescribed standards. The Bureau of Energy Efficiency (BEE) is recommending hefty penalties for violations, urging carmakers to shift toward greener and less-polluting vehicles.

In the midst of the ongoing festive season, the Indian market witnessed a robust double-digit increase in motorcycle and scooter sales last month, reflecting improved consumer sentiments. Hero MotoCorp, the market leader, reported a substantial growth of 26.4%, selling over half a million units domestically. Rival companies such as Honda Motorcycle and Scooter India, TVS Motor Company, and Bajaj Auto also experienced significant sales upticks.

"Our strategy is to achieve carbon neutrality by 2050. To achieve that, we have milestones set for 2030-35 and 2040...For Honda, the Indian market is a big market and it is the market where electrification is rapidly progressing for both cars and two-wheelers," Honda Motor President and CEO Toshihiro Mibe said.

Japanese automaker Honda and US giant General Motors said Thursday they were scrapping a tie-up that was aimed at producing "affordable" electric vehicles from 2027. The tie-up announced in 2022 aimed to develop electric cars cheaper than the US firm's planned $30,000 Chevrolet Equinox.

Suzuki Motor Corporation is developing region-specific clean mobility solutions, including compressed biomethane gas (CBG) and alternate fuel driven vehicles, to reduce fuel consumption and vehicular emissions. The company believes that electric vehicles alone cannot achieve governments' objective of moving towards carbon neutrality.

Honda Motor is shelving plans to jointly develop affordable electric vehicles (EVs) with General Motors due to a changing business environment, Bloomberg News reported on Wednesday, citing an interview with Honda CEO Toshihiro Mibe. GM and Honda will search for a solution separately, while "this project itself has been canceled," he added.

Honda Motor Company's President and CEO, Toshihiro Mibe, announced the company's focus on autonomous driving and generative AI technologies at the Japan Mobility Show. Honda plans to launch a driverless ride-hailing service in Japan in 2026 using the autonomous vehicle Cruise Origin. Mibe also unveiled the electric sports car Prelude Concept, which will pave the way for future sporty models.

Three major automotive companies in Pakistan, including Honda Atlas Cars, Pak Suzuki Motor Company, and Indus Motor Company, have announced temporary production halts due to a shortage of essential raw materials. Indus Motor Company will suspend production for a month, while Honda Atlas Cars and Pak Suzuki Motor will have temporary shutdowns.

The battery swap service aims to reduce initial EV purchase costs, address range limitations, and minimize downtime associated with battery recharging. Omega Seiki Mobility plans to equip its upcoming three-wheelers with Honda's intelligent swappable batteries. HEID intends to develop a battery swap network, starting in Bengaluru and expanding to other Tier 1 cities.

Carmakers in India, including Maruti Suzuki, Hyundai, and Honda, are increasing production and working longer hours to meet the high demand and clear their order books ahead of the festive season. The industry expects to sell over a million cars this season, surpassing previous years. The festive season accounts for 30-35% of retail auto sales, and companies are fine-tuning production and increasing capacity to meet consumer demand. Despite the easing of pent-up demand, there is strong fresh demand, indicating positive growth in the sector.

India saw 120 per cent growth in electric vehicles (EVs) in the second quarter of this year, driven by a 400 per cent surge in hybrid vehicles, a report showed. The surge in EV adoption was driven by the introduction of new affordable models, including, for instance, MG Comet EV from MG Motors.

Segment wise, the report said, the domestic two-wheeler industry's volumes are likely to have improved by around 10 per cent Year-on-Year (YoY) in Q1, primarily on account of continued and healthy demand from the urban/premium segment. However, the two-wheeler exports remained weak on a year-on-year basis while sequential improvement was recorded for larger volume players, it said.

"Our sales in June are in line with our projections and met our planned targets," Honda Cars India Director (Marketing and Sales) Yuichi Murata said in a statement.

Honda Cars India on Wednesday announced naming its upcoming mid-sized sports utility vehicle as 'Elevate' which is likely to be launched in India in June. Elevate has been developed as a new global model in Honda's line-up to cater to the robust demand for SUVs world-wide, the company said in a statement.