On Tuesday, Japanese carmaker Honda Motor revealed its intentions to begin production of a new line of electric vehicles in 2026, in an effort to catch up to its competitors worldwide in the transition to battery-powered vehicles.
The second-largest automaker in Japan has been sluggish in increasing its electric vehicle (EV) sales, trailing behind US and European rivals like General Motors (GM.N) and Volkswagen while up against more recent challengers like China’s BYD.
At the CES trade exhibition in Las Vegas, Honda introduced its “Honda 0 Series” and two concept cars that it hopes will help it achieve its objective of having all of its new car sales come from battery-powered and fuel-cell vehicles by 2040.
At a December press meeting in Tokyo, Honda executives stated that the company plans to release the first models of its new series by 2026. The global premiere of the series will begin in the North American market.
At the briefing, the executives withheld information about the series, including its pricing, the number of models the business plans to introduce, and the number of cars it hopes to sell. According to company figures, battery-powered vehicles accounted for less than 0.5% of Honda’s global sales of approximately 2.8 million cars during the first nine months of 2023, or roughly 11,000 vehicles. Of those, it sold roughly 10,400, or roughly 93%, in China; none were sold in North America.
Honda’s plan for the future
Honda has stated that it intends to produce two million electric vehicles annually worldwide by 2030 and has set a goal to launch thirty battery-only models by then. According to a government source, Honda representatives are meeting with Canadian officials this week. This comes after a news report suggested that the automaker was thinking of constructing an electric vehicle plant in Canada worth about 2 trillion yen ($13.9 billion).
As stated by Honda CEO Toshihiro Mibe to reporters on Tuesday in Las Vegas, “There is a possibility that we will build a plant in Canada,” according to the Nikkei Business Daily.
The Saloon, a vehicle that would have held four or five passengers, was one concept model that was displayed at the CES trade exhibition. According to executives at the Tokyo conference, the idea was anticipated to resemble the vehicle relatively closely in production, though some aspects of its appearance might yet alter.
The Space-Hub, a van-like vehicle that was supposed to accommodate six or seven people, was the other concept the manufacturer unveiled, according to the executives. Honda also revealed that the logo for its upcoming EV series will be updated, adopting a sleeker, more angled shape than the one it currently uses.
