The company has a target to have battery-powered and fuel-cell vehicles make up all of its new car sales by 2040. Shares of Honda Motor ( HMC) traded flat in premarket action at $28.80 vs. the 52-week range of $23.41 to $37.90.

Honda Motor Co. is looking to capture half of the world’s market for motorcycles as industrywide sales of two-wheelers, both gas and electric, are tipped to reach 60 million units annually by 2030.

Honda's global motorcycle sales are forecast to reach 20.2 million for the fiscal year ending this March, the Japanese company said during a briefing Tuesday

Honda Motor Company plans to establish a dedicated electric motorcycle factory in India by 2028. Daiki Mihara, the Head of the Motorcycle and Power Products Electrification Business Unit told the media in Japan.