Honda Motor Co (TYO:7267) will introduce a new ultralight quadricycle, the Fastport eQuad, designed for last-mile logistics in congested urban environments, requiring no driver's license to operate, Nikkei Asia reported on Wednesday, citing a top official.

The pedal-assisted electric vehicle is positioned between cars and two-wheelers, offering a compact and efficient delivery solution, said the publication, citing Hirokazu Hara, vice president of new business development at American Honda Motor.

It will debut initially in the US and European markets, serving as a test case for a new mobility business model, said the news daily.

Honda anticipates strong adoption in densely populated cities where traffic congestion challenges conventional delivery vehicles, the report added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)