Honda recently announced ambitious plans to ramp up its investment in electric vehicles (EVs) to $65 billion and introduce seven new electric models by 2030. With a keen eye on industry leaders like Tesla and BYD, the Japanese automaker aims to solidify its position in the EV market.
During a press briefing, Honda’s Global CEO Toshihiro Mibe reaffirmed the company’s commitment to EVs, emphasizing their importance in both small mobility products and automobiles. Honda is steadfast in its goal for EVs and fuel cell electric vehicles (FCEVs) to comprise 100 percent of its global vehicle sales by 2040.
Key highlights from the announcement include a substantial investment of 10 trillion yen over the next decade, focusing on EV development until 2031 when widespread adoption is anticipated. Honda plans to unveil seven new models under the Honda 0 Series, catering to various sizes and markets, with a micro-mobility product slated for release in Japan by 2026.
To enhance competitiveness and reduce production costs by approximately 35 percent, Honda aims to establish an efficient business structure. By 2030, the company aims to lower EV battery costs in North America by over 20 percent through vertical integration and securing battery supplies for its projected annual production of two million EVs.
In line with Honda’s commitment to driving enjoyment, the new EV models will prioritize sporty driving experiences and weight reduction of approximately 100 kg. Leveraging insights from Formula 1 development, Honda will introduce a new power unit and optimize component placement for a lower center of gravity.
Furthermore, Honda plans to implement its motion management system, utilizing posture control technology to enhance vehicle dynamics. The integration of efficient power units and aerodynamic technologies is expected to achieve a range of over 480 km for each Honda 0 Series model, combining performance and energy efficiency.
Honda’s bold investment and innovative approach underscore its determination to lead in the EV market, promising exciting advancements in electric mobility and driving experiences in the years ahead.