Honda Aims To Produce 2 Million EVs By 2030 Starting With Honda ‘0’ Series

Honda has revealed its target of having 100% global vehicle sales coming from EVs and HEVs by 2040.

At its most recent business briefing, Japanese automaker Honda detailed its electrification initiatives and investment plan for the upcoming years. 

Firstly, Honda says it remains committed to electric vehicles (EVs) as a solution for small mobility products like motorcycles and automobiles. From a longer-term trend standpoint, Honda is optimistic about the steady progression of the EV changeover.

Honda has to look ahead to the EV popularisation period, which is expected to start in the second half of the 2020s and develop a strong EV brand and a strong EV business from a medium- to long-term viewpoint, without getting too hung up on the current changes in the market.

From which, Honda aims to produce over 2 million EVs by 2030, with EVs and FCEVs accounting for 40% of its global auto sales. The company aims to make EVs and hybrid electric vehicles (HEVs) 100% of its global vehicle sales by 2040. 

As it works towards this future, Honda will assiduously pursue the following three projects, choosing the appropriate times to make investments.

To achieve this, Honda plans to establish a vertically integrated EV value chain, focusing on batteries, and reduce battery procurement costs in North America - a key market for the brand - by over 20% before 2030. The company also aims to reduce overall production costs by 35%. 

Seven new EV models will be launched by 2030 under the new Honda 0 series.

This plan will kick off with the launch of seven modes under the ‘Honda 0’ series banner globally by 2030, including models of various sizes.

The Honda 0 Series, which will be crucial to the company's EV strategy, is a brand-new EV series that Honda developed from "zero" using the novel EV development methodology of "Thin, Light, and Wise."

Honda 0 Saloon (left) & 0 Space-Hub (right) EV concepts unveiled at CES 2024.

Saloon and Space-Hub, two concept models, were introduced at CES in January of this year. Regarding the saloon, which will serve as the series' flagship model, Honda intends to introduce a model that closely resembles this concept model to the market in 2026. 

Additionally, Honda plans to introduce a micro-mobility product equipped with four Honda Mobile Power Packs (MPPs) in Japan by FY2026, enhancing the use of said tech. 

Honda also plans to invest approximately JPY10 trillion (approx. RM30 billion) in resources through FY2021, aiming for both future growth and shareholder returns. KR