Honda enters India's EV market | Mint Explains | Mint

India's two-wheeler electric vehicle (EV) market h... moreIndia's two-wheeler electric vehicle (EV) market has been rapidly growing, with sales reaching 8.46 lakh in FY23, up 158% from FY22. This growth has prompted global automaker Honda to enter the market through its local subsidiary, Honda Motorcycles & Scooters India (HMSI). HMSI aims to launch ten EV models in India, including two this fiscal year, and targets a 15-20% market share by 2030. With the entry of Honda, competition in the segment is expected to intensify, challenging current market leaders like Ola Electric, Okinawa, and Hero Electric. In this video, we will discuss the growth of India's two-wheeler EV market, the entry of Honda, and the implications for the industry.