Honda Motor(US:HMC) 3 6 Ke·2025-11-10 02:46Core Insights - Honda is set to produce its first global strategic electric vehicle (EV), "Honda 0 α," in India, aiming to enhance cost competitiveness against low-priced EVs from China [2][4] - The company plans to establish India as an export base for the new electric SUV, with a target launch in Japan by the fiscal year 2027 [2][4] - Honda's decision to produce EVs in India is driven by the country's significant market growth potential and lower manufacturing costs compared to Japan [2][4] Group 1 - Honda's "Honda 0 α" will be the first model developed with India as the focal point from the planning stage [2][7] - The Indian automotive market is projected to exceed 7 million annual vehicle sales by 2030, surpassing Japan's current sales [4] - The Indian government aims for a 30% EV adoption rate by 2030, further incentivizing Honda's investment in local production [4] Group 2 - Honda's previous success with the WR-V, a small gasoline SUV produced in India, has influenced the decision to manufacture EVs there, with WR-V sales exceeding monthly targets by four times [7] - The competitive landscape includes Chinese companies like BYD, which have successfully increased their market share in Japan and Southeast Asia through aggressive pricing strategies [7][9] - Concerns about the depreciation of the yen may impact the cost of imported vehicles, highlighting the importance of local production for cost management [9]