Honda Vietnam races ahead with electric product launches

Honda Vietnam, which accounts for 80 per cent of the motorbike market share in the country, has announced an electrification plan that will include both car and motorbike segments.

The company said last week that by the end of 2026, the company will have more than 10 electric motorbike models launched globally. That number will likely rise to 30 by the end of 2030, and it aims to reach net-zero carbon emissions across its business by 2050.

New Honda models have been launched in Vietnam recently, photo Le Toan

In terms of vehicles, hybrids are still the most effective solution in the transition period. Honda Vietnam also looks forward to the support of the government for the company to contribute to promoting the electrification process in Vietnam.

“Vietnam is a high-potential market. Honda is also confident in its electric vehicle product line. However, Honda will proceed step by step, and hybrid vehicles will be the first models to enter the Vietnamese market, which is good for both customers and the environment. Electric vehicles (EVs) will need more time,” said Koji Sugita, general director of Honda Vietnam.

The move came after Honda launched a series of products including electric and hybrid vehicles at the Vietnam Motor Show last week, including the Honda Civic sports sedan with hybrid engine and two electric motorcycle models.

“We emphasise creating a more responsible product life cycle. We also commit to buying back used vehicles within three years if they meet certain criteria regarding maintenance, appearance, and operation. Used vehicles are refurbished by us, completely replaced with new batteries, and sold at a better price. As for the issue of exchanging old for new ones, the company will consider this further,” Sugita added.

In June, Honda Vietnam coordinated with Vietnam Post to expand a project of using EVs for delivery in Ho Chi Minh City. This is one of the largest two-wheeled vehicle markets in the country.

A report on EVs conducted by KPMG Vietnam, in collaboration with the European Chamber of Commerce in Vietnam and Cho Tot Xe in July, showed the electric vehicle market in Vietnam is on the rise. Specifically, nearly 70 per cent of survey participants expressed interest in buying EVs.

The market in Vietnam is gradually becoming more vibrant with the participation of many domestic and foreign names. The e-bike market has been developed for many years, but apart from Pega (formerly HKBike), most are imported brands. In recent years, the market has welcomed more domestic names such as VinFast and Dat Bike.

Thy Nguyet

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