Honda India Power Products (HIPP), one of India's leading power products manufacturers, has forayed into the marine engines business with the launch of a range of four-stroke outboard motors (OBMs). The range will be available for sale from April and is targeted at boat operators engaged in maritime security, patrolling, rescue, interceptor and water taxi services, and commercial fishing in sea or inland river systems.
Speaking on the occasion, Honda India Power Products CEO Takahiro Ueda said, "We aim to provide perfect solutions for those people engaged in maritime operations, yet establish a robust and sustainable ecosystem powered by Honda four-stroke OBM technology. We aim to leverage our long-standing patronage in the Indian market, opening up avenues for collaboration with government agencies and private sector utilities through our channel partners to develop India marine market to its full potential."
The company has claimed that strategic application of this cutting-edge range of motors will provide boat operators with a high-performance, durable, fuel-efficient and sustainable option. The channel partners have the required OBM servicing knowledge and infrastructure to provide quick and efficient service with assured supply of genuine spare parts to consumers.
With the Indian marine industry expected to grow to Rs 1,400 crore in size, HIPP is aiming to capture 10 per cent share in the four-stroke market in the first three years of the launch. Given the country's 8,000 km coastline, the company especially sees tremendous growth potential in Goa, Kerala and the Andaman archipelago, besides Kashmir.
Initially, Honda will be sourcing OBMs from its global manufacturing facilities located outside India. If there is a steady growth in demand, the company may even consider producing them locally.
Listed on the Indian exchanges, HIPP has completed 36 years in India and has a diversified portfolio of solutions for power back up, agriculture and construction segments. The company has made a cumulative investment of over Rs 2,500 crore in India and has a production facility in Greater Noida.
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