Automotive
Honda recently reiterated its dedication to electric vehicles (EVs), outlining an ambitious plan to speculate $65 billion by fiscal 2031 to propel EV models worldwide, notably within the U.S. and China. The corporate emphasized its steadfast belief within the efficacy of EVs, particularly for small mobility products like motorcycles and automobiles. By 2030, Honda goals for battery EVs and fuel cell EVs to constitute 40% of its global auto sales, with a production capability exceeding 2 million EVs globally.
The cornerstone of Honda’s EV strategy is the introduction of the “0 Series,” a brand-new EV series conceptualized from scratch. CEO Toshihiro Mibe underscored that this series will debut in North America by 2026 before a worldwide rollout, with plans for seven models by 2030. In China, Honda plans to launch 10 EV models by 2027, with the aspiration for all auto sales within the country to be EVs by 2035.
Mibe emphasized Honda’s proactive stance in driving lifestyle changes to attain sustainability goals, fairly than waiting for others to take the lead. This commitment stands out amidst discussions of a possible slowdown in EV adoption in certain markets, with Honda foreseeing EVs becoming dominant by the latter half of the 2020s.
While Honda focuses on battery and fuel-cell EVs, its approach diverges from that of domestic competitor Toyota, which prioritizes a spread of powertrains including hybrids. Despite the EV push, Honda will retain hybrids in its lineup, alongside efforts to boost battery production and safety features to strive for accident-free driving.
Of the substantial investment planned, a good portion might be allocated to research and development, including software, and establishing comprehensive EV value chains in key markets. Moreover, funds will support manufacturing initiatives akin to constructing next-gen EV production plants and advancing electrification for motorcycles.
Honda emphasized collaborations with industry peers, highlighting partnerships with Nissan for EV and intelligent driving technology development, in addition to a recent agreement with IBM to co-create computer chips and software for future vehicles, aligning with the growing demand for enhanced processing and energy efficiency.
Honda’s resolute commitment to EVs demonstrates its proactive stance in shaping the long run of mobility, backed by substantial investments and strategic partnerships to drive innovation and sustainability within the automotive industry.
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This Article First Appeared At www.automotiveaddicts.com
