Honda to double e-mobility investments
Honda doesn’t currently offer many EVs in markets other than China and is taking it slow in most of its key markets. However, the company does plan to build a comprehensive EV lineup in other markets towards the end of the decade, meaning it is committed to adopting zero-emission propulsion technology.
Honda announced the doubling of its investments in the areas of electrification and software to a total sum of around 10 trillion yen (65 billion US dollars) by 2030. Two years ago, Honda had budgeted 5 trillion yen for this. In its recently published strategy update, the Japanese company also specifies that seven models of the new 0 Series generation of electric cars are planned worldwide by 2030, which will be launched in 2026. For China, Honda is announcing ten electric models by 2027. Honda is focusing on the new Ye series for this.
Honda’s investment in resources between FY2021 and FY2031 will amount to about ¥10 trillion (approx. €59 billion), and FY2031 is when it expects the EVs to become the new normal. In 2020, Honda launched a small hatchback called ‘e’ as its first series-production electric car in Japan and Europe. In 2023, the company started sales of the e:Ny1, an electric small SUV closely related to the latest global HR-V, followed by a similar e:N1 model in Thailand in the first quarter of 2024. In the last few days of April 2024, the Prologue, an electric mid-size SUV, started arriving at US dealerships.
“As for strengthening software development, we realised the amount we had settled on two years ago was simply not enough, so we significantly increased that portion,” explained Honda CEO Toshihiro Mibe.
In 2026, the production version of the Honda 0 Saloon concept that debuted at CES 2024 will go on sale in North America and other markets will get this electric sedan later. North America and maybe other markets, too, will get it from Honda’s factory in Marysville (Ohio), USA, where its production is scheduled to commence in late 2025. This car will be the first and the flagship model of seven Honda 0 Series EVs ranging from small to large size. Honda plans to finish launching all seven 0 Series models globally by 2030.
Honda’s EV plans in markets other than China will include even a few EVs other than those in the 0 Series range. The company will launch a commercial-use mini-EV called ’N-VAN e’ in Japan this fall, personal-use mini-EV models in 2025, and other small EVs in 2026. Like the N-VAN e, some of these models could be kei cars and may not reach European or North American countries.
On the sidelines, Honda is still working on hydrogen-powered zero-emission models. In February 2024, the Honda CR-V e:FCEV premiered as the company’s next-generation FCEV model. It’s a hydrogen fuel cell plug-in hybrid electric vehicle, officially expected to cover a distance of more than 600 km (372 miles) using hydrogen and more than 60 km (37 miles) using electricity, both as per WLTP. To be manufactured at Honda’s Performance Manufacturing Center in Marysville (Ohio), USA, this model will go on sale in Japan this Summer and then in North America before the end of the year.
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