Honda is holding firm in the market, despite increasing competition from companies like Tesla and BYD, which are continuously gaining market share.
To secure its competitive position, Honda plans to double its investment in electric vehicles (EVs), reaching $65 billion (~€60 billion) by 2030. Its plan includes cutting costs and launching seven new electric models.
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On Thursday, CEO Toshihiro Mibe unveiled Honda's newly announced strategy, reaffirming the company's firm belief that electric vehicles (EVs) are the most effective solution.
Honda recognizes its potential to compete in the small electric vehicle and motorcycle segment. Looking ahead, Honda sees the growing adoption of electric vehicles (EVs) as a steady trend. The company is looking to capitalize on the upcoming “EV mainstreaming era , ” which is expected to accelerate in the second half of the 2020s.
To achieve this goal, Honda plans to launch new electric vehicles (EVs), develop an integrated supply chain that includes batteries, and improve electric vehicle technology and facilities.
By implementing its new strategy, Honda plans to achieve a 5% sales return in the electric car sector by 2030, targeting the automotive industry.
Honda is set to define the future with its new 0 series. At CES in January, two impressive concepts, the Saloon and the Space-Hub, were unveiled, promising to play a decisive role.
The Saloon is expected to be Honda's new flagship electric vehicle offering, with a design that is very close to the original concept, which is set to be released in 2026. It will be first unveiled in North America, before its global launch .
Following the Saloon series, Honda announced plans to launch seven new electric vehicle (EV) models globally, covering a wide range from small to large. Specifically for the Chinese market, Honda plans to launch ten new electric vehicles by 2027, aiming for them to account for 100% of sales in the region by 2035. It also unveiled a new line of electric vehicles, the “Ye Series”, aimed at competing with Chinese companies such as BYD.
Honda announces the introduction of an innovative line-up of small electric vehicles (EVs), starting with the N-Van e, a compact commercial EV. Its first launch will take place in Japan this autumn. Honda then plans to launch a range of advanced small electric vehicles, designed to meet the specific needs of specific regions. In addition, personal mini-EV models are expected to be launched in 2025.
As part of its supply chain improvement, Honda plans to strengthen its partnerships in the lithium-ion battery sector while keeping production costs low. Starting in mid-2020, the company will begin battery production in collaboration with its joint venture partners.
In the United States, Honda's joint venture with LG Energy Solution is set to begin production with the capacity to manufacture up to 40 GWh of batteries annually. These lightweight and compact battery systems will be used to power 0-series EVs.
In the second half of the decade, Honda aims to further expand its battery business by creating an integrated supply chain.
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To achieve this goal, Honda plans to start battery production in partnership with GS Yuasa for electric vehicles (EVs). At the same time, the company plans to secure battery materials in Canada, such as POSCO Future M materials and separators from Kasei, by building new JV facilities.
By 2030, Honda plans to reduce the cost of EV battery production in North America by more than 20% compared to current costs. The company has already secured the necessary materials to build approximately 2 million electric vehicles scheduled for sale in 2030.
Source: electrek.co
