Japanese auto major Honda Motor Company will invest Rs 1,775 crore to increase production capacity of two-wheelers and launch new models in India in the current financial year.
The company’s wholly- owned unit, Honda Motorcycle and Scooter India (HMSI) plans to introduce 15 new products this year in the market which is expected to emerge as number one for HMC globally over the next two years. Out of these 15 products, seven are brand new models.
HMSI will also start assembling high-end sports bike CBR 650F in India this fiscal. Initially, HMSI will assemble two bikes a day and sell them through exclusive outlets at 20 locations. Depending on market response, the company can consider assembling more superbikes in the Indian market.
Keita Muramatsu, president and CEO, HMSI, said, “In 2015-16 India will be second largest contributor to Honda’s global sales accounting for 25 per cent. Indonesia is number one, but the way Indian two-wheeler market is expected to grow, we may be able to be number one.”