No change in investment plan despite slowdown: Honda

Honda Motorcycle and Scooter India (HMSI) has said there is no change in its planned investment due to the slowdown.

HMSI, which is India’s second largest two-wheeler manufacturer, had planned investment of Rs 11,800 crore till 2020 cumulatively, including Rs 2,400 crore for this financial year.

Minoru Kato, Managing Director and Chief Executive Officer, said that the company will start rolling out of BS-VI vehicles from this month (September 11) onwards and cover most of the line-up within this calendar year.

Speaking on the sidelines of 59th SIAM Annual Convention, he said, “Volume-wise there is a change in our target (reduced), but there is no change in our plans in terms of investments. A total of around 17 products are lined up – in both scooter and motorcycle segments and new product launches in BS-VI.”

Talking about the future of the automobile industry, Kato said, “There will be a new start to the industry going forward.”

Image Credit : etimg.etb2bimg.com

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