The manufacturer did not release any details about specific models but said it aims to reach annual sales of 1 million units in the next five years and 3.5 million units by 2030 (about 15 percent of total sales). Honda is considered the world’s largest motorcycle company, having sold more than 300 million motorcycles since its inception. That said, moving to electric powertrains will be no small task.
The shift to electrification could mean heavier and more expensive vehicles in the short term, which could hurt sales if demand begins to wane. High prices in particular could be a barrier for customers in developing markets, where motorcycle sales are strongest. Honda is also experimenting with different fuel types, announcing that it will launch flex-fuel (gasoline-ethanol blends) models in India and Brazil.
Also in India, Honda said it will launch a battery-sharing service for electric three-wheeler cabs by the end of this year. Honda aims to popularize battery-sharing services in other Asian countries where the technology is more widely used than in the United States and Europe.
Honda is not just electrifying its motorcycle lineup. The company recently unveiled the Prologue, its first long-range, all-electric SUV, which will go on sale in 2024. The company said it plans to release a wave of 30 hybrid, battery-electric and fuel-cell vehicles by 2030.