Global automobile major Honda on Tuesday unveiled big plans for the Indian market.
As part of its global plans to expand the range of motorcycles using its electronic fuel injection system or PGM-FI, Honda is set to introduce 10 models with this advanced technology (that helps lower emission) in the ASEAN markets and India by 2007.
Motohide Sudo, executive vice president, Asian Honda Motor Co announced the Japanese auto majors' plans at the Bangkok-based Asia-Oceania Regional Headquarters.
The Asia-Oceania region is one of six areas making up Honda's global management structure. It extends from Pakistan to New Zealand but does not include China or Japan, both of which are separate operating regions.
The group also said that the company's operations in India - Hero Honda Motors - would establish its third plant in 2006.
The company currently has two plants in India, in Gurgaon and Dharuhera, both in Haryana. Apart from Hero Honda, the Japanese group also has major interests in Honda Motorcycle and Scooter India and carmaker, Honda Siel Cars.
Sudo said Honda would also continue to invest heavily in promoting safe motorcycle use for its customers. During 2006, Honda will open new safety driving schools in India and Indonesia and establish second centres in Thailand and Vietnam, making a total of 12 centres across the Asia-Oceania region.
In 2005, Honda's sales hit a record 9.17 million units in the Asia-Oceania motorcycle market, up 20 per cent over 2004.
"In response to this growing customer demand, Honda is expanding its production capacities for all three of our core products in the region and accelerating local component manufacturing which is resulting in ever higher local content ratios. In fact, the all-new Civic, which was launched in Thailand last month, has more than 90 per cent Asean local content," Sudo said.
The Civic, a premium sedan, is slated to hit the Indian roads in 2006.
Honda Siel had recently announced expansion of its capacity to 50,000 units annually from 30,000 units.
Honda Siel Cars, earlier this month, had said it would invest up to Rs 700 crore over the next five years to double production to 100,000 units per annum and launch new models and variants.
