Honda plans to launch an electric motorcycle in Vietnam this month. The suggested retail price is less than 29 million VND (about $1183) without battery. The company is targeting the younger generation, who often use motorcycles to commute to school.
The name of the motorcycle to be sold is “ICON e:”. It will be manufactured at the company’s Binh Phuoc plant in northern Vietnam and will initially be sold through authorized dealers in seven provinces and cities. The maximum speed is 48 km/h, and it takes about 8 hours to charge the battery from zero to full. The maximum distance that can be traveled on a full charge is 71 kilometers. Because it does not require a driver’s license, which can be obtained at age 18, it is expected to be used by high school students on their way to school.
Vinfast, which manufactures domestically produced EVs in Vietnam, also makes electric motorcycles. In January this year, it released an electric motorcycle that has the same top speed and range as Honda’s ICON e: and does not require a driver’s license, for about VND18 million ($699) with a single battery. This is cheaper than an iPhone 16.
Source: The Nikkei
PSR Analysis: The release of Honda’s EV motorcycle, which has the largest market share in Southeast Asia, was long awaited, as we have pointed out many times in the past. It was clear that Chinese EV motorcycles were trying to expand sales in Southeast Asia by selling the surplus from mainland China.
The model announced this time has a very low price, and this is a very good time to appeal to consumers with a low price, as the economic outlook is uncertain and there is a growing tendency to curb consumption. Until now, it has been a waste of demand for consumers to consider buying an EV bike but not having a choice of Honda EV bikes. PSR
Akihiro Komuro is Research Analyst, Far East and Southeast Asia, for Power Systems Research
