Get Instant Loan up to ₹10 Lakh!
Honda’s strategic move: HCIL set to export Indian-made Elevate SUV to Japan
Honda is set to launch its mid-sized SUV, Elevate, in the Japanese market next year. It will be the first time that a product produced by Honda Cars India Ltd will be exported to Japan.
Honda, the Japanese automotive giant, is gearing up to launch its mid-sized SUV, Elevate, in the Japanese market next year. This marks a significant milestone as it will be the first time that a product produced by Honda Cars India Ltd (HCIL), a wholly-owned subsidiary of the Japanese company, will be exported to the tightly regulated Japanese market, reported PTI.
The Elevate, manufactured by Honda Cars India Ltd (HCIL), is being produced at its Tapukara facility in Rajasthan. Following its successful introduction in India earlier this year, the Elevate is set to be launched in the Japanese market in Spring 2024, bearing the brand name WR-V, as stated by an HCIL spokesperson.
For the first time in its history, HCIL will produce the model in India and export it to Japan, according to the statement.
"This strategic move is a strong reflection of manufacturing capabilities of India operations and also solidifies our vision of making the country a key export hub in Honda business," the spokesperson stated.
The spokesperson added that HCIL's Tapukara-based plant is fully equipped to meet both domestic and export demands. Elevate was introduced in the domestic market by HCIL in September this year. As part of its future plans, the company aims to introduce five SUV models in the domestic market by 2030, starting with this model.
Additionally, the company has intentions to launch a battery-electric variant of Elevate within the next three years. The vehicle is currently propelled by a 1.5-liter petrol engine, which is coupled with a six-speed manual transmission and a seven-speed continuously variable transmission (CVT).
To recall, Honda Cars India unveiled its plans to introduce an all-electric variant of the Elevate mid-size SUV by 2026. Honda is now focused on delivering a pure electric version of the Elevate within the next three years.
According to a report by PTI, Takuya Tsumura, President and CEO of Honda Cars India, has indicated the company's concentration on developing a battery-electric iteration of the Honda Elevate.
(With inputs from PTI)
Catch all the Auto News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
Business NewsAuto NewsHonda’s strategic move: HCIL set to export Indian-made Elevate SUV to Japan
First Published:4 Dec 2023, 12:37 PM IST
- Top Gainers
- Top Losers
- 52 Week High