Everyone expected a strong hybrid version of Honda Elevate at the time of launch a few months back. However, the Japanese auto giant decided against it, but revealed that it will be bringing a fully-electric version of Elevate in the future. The company further went on to divulge that it will launch as many as five SUVs in India by the end of this decade.
Honda ACE project
Fresh details regarding Honda’s electrification strategy and the upcoming electric SUV have emerged online. A recent media report reveals that Honda intends to make India a major export hub for its future electric vehicles (EVs). The report mentions that Honda will develop a range of EVs under the project ‘ACE’ which stands for ‘Asian Compact Electric’.
According to a recent report by Autocar India, the ACE will be ready by 2026 and almost 50-70% of the vehicles produced in India will be exported to key overseas markets, including Japan. Internally codenamed DG9D, there are serious ongoing discussions in Honda about this upcoming EV which has the potential to rack up an annual volume of 1 lakh units.
The latest report also sheds light on Honda retooling of its plant in Tapukara, Rajasthan for EV production which is expected to commence from 2024 itself. In order to ramp up exports, the carmaker may seek additional investments in the country to boost production capacity. With Honda looking to double its exports by 2025, the addition of the ACE project could increase the overseas volume share to about 30-40 percent of the total output.
