Honda
(7267.T) said last week it will make India a production and export base for one of its planned electric cars.
India's low costs and vast labour pool have long been an attraction for manufacturers.
Now, Japanese automakers are stepping up operations as they pivot away from China, both as a market and a manufacturing base, multiple industry executives said. Another benefit: India remains all but closed to Chinese EVs, so Japan's carmakers - at least for now - won't face bruising competition from BYD
(002594.SZ) and others there.
A brutal price war among Chinese EV makers has made it difficult to turn a profit in China. Adding to the pain, Chinese carmakers are now expanding overseas and snatching market share from Japanese rivals in Southeast Asia.
