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Honda plans to drive in affordable hybrid model in India in the next 3 years

Press Trust of India  |  New Delhi 

Japanese car plans to launch an affordable, mass market hybrid model in in the next three years, a top said Tuesday.

The company, which is present in the country through a wholly-owned subsidiary, Cars Ltd (HCIL), has already announced to introduce six models with conventional powertrains over the next three years.

It has already launched all new and all fifth generation CR-V in the country and also plans to drive in new Civic later this financial year.

"In three years we will launch ... a mass (market), affordable, electrified vehicle," HCIL told reporters here.

He said that the vehicle would not be in the category of Accord Hybrid but in the volume generating affordable segment.

When asked if the model would be a fully electric vehicle, he said: "Not EV, hybrid."

Terming as a practical bridge towards introducing EVs in the country, he added that the company completely agrees with the notion of bringing in environment friendly vehicles to the country.

Nakanishi said that in order to make EVs popular in the country, it is important to provide some kind of motivation in terms of incentive to customers as well as the manufacturers of such vehicles.

He added that HCIL is the process of formulating an "electrification strategy" in order to work out details in terms of models and other details.

HCIL currently sells Accord hybrid in through import of completely built unit from Sales of the model had suffered after price hike due to increased taxes after GST implementation last year.

Under GST, hybrid vehicles have an overall tax incidence of 43 per cent (28 per cent peak GST rate plus 15 per cent cess).

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 09 2018. 18:40 IST