Honda “Moves Steady and Safely” in Electric Vehicles, Announces Major Investment – ​​Autoblog - Latest Global News

Honda “Moves Steady and Safely” in Electric Vehicles, Announces Major Investment – ​​Autoblog

TOKYO — Japanese automaker Honda reiterated its commitment to electric vehicles on Thursday, saying it will invest 10 trillion yen ($65 billion) by fiscal 2031 to supply electric vehicles around the world, including the United States and China.

“Honda has not changed its belief that electric vehicles are the most effective solution in the field of small mobility products such as motorcycles and cars,” the Tokyo-based company said in a statement.

By 2030, battery electric vehicles and fuel cell electric vehicles will account for 40% of Honda Motor Co.’s global auto sales and the company will have global production capacity for more than 2 million electric vehicles, it said.

The so-called “0 Series,” a key part of Honda’s EV strategy, will be an entirely new EV series created from “zero,” Chief Executive Toshihiro Mibe told reporters in an online presentation.

The 0-Series will launch in North America in 2026 and then roll out globally, with seven models set to launch by 2030. In China, Honda will introduce 10 EV models by 2027, with 100% of its car sales there being electric vehicles by 2035.

“We will be at the forefront of changing lifestyles to achieve sustainability goals, not wait for someone else to tackle them,” Mibe told reporters.

Despite some talk of a decline in electric vehicles in some markets, the electric vehicle trend remains solid in the long term and will become dominant in the second half of the 2020s, according to Honda, which makes Acura and Civic sedans and Gold Wing Tour motorcycles.

Honda’s determination to advance battery and fuel cell electric vehicles appears to contrast with domestic rival Toyota Motor Corp.’s more diverse or “multiple” powertrain approach. that focuses on hybrids and other models that still have engines.

Honda is keeping hybrid vehicles in its lineup as it ramps up production of electric vehicles, increasing battery production and making them thinner, with the goal of causing zero accidents, Mibe said.

Of the planned 10 trillion yen ($65 billion) in investments, about 2 trillion yen ($13 billion) will go to software research and development and another 2 trillion yen ($13 billion) will go to building more comprehensively EV value chains in key markets such as the US, Canada and Japan.

About 6 trillion yen ($39 billion) will go into “monozukuri,” Japanese for “the art of making things,” such as building next-generation electric vehicle production facilities, electrifying motorcycles and developing electric vehicle models. the company said.

Mibe highlighted Honda’s various partnerships, such as its partnership with Japanese rival Nissan Motor Co. announced earlier this year to develop electric vehicles and intelligent driving technology.

Honda said Wednesday that it has signed a deal with IBM to work together on computer chips and software for future vehicles to meet upcoming demands for better processing and lower power consumption.

“We are moving forward steadily and safely to be prepared for electrification,” said Mibe.

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