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Honda aims for 100% electric vehicles by 2040, says new CEO

2021-04-23
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Toshihiro Mibe, the chief executive of Japan’s second-largest automaker Honda Motor Co at his first news conference since taking the helm, stated that the company is aiming to increase ratio of its electric vehicles (EVs) and fuel cell vehicles (FCVs) to 100% of all sales by 2040. Hence supporting the government’s green goals.

"I believe it is the responsibility of an automaker to achieve our carbon-free goal on a 'tank-to-wheel' basis," Mibe said.

He stated that as per the plans the company expects to have EVs and FCVs to account for 40% of sales by 2030 and 80% by 2035 in all the major markets including North America and China.

The announcement comes after Prime Minister Yoshihide Suga, almost doubling its previous target, said that Japan would aim for 46% cut in emissions by 2030, and will look for ways to even go further.

Mibe said that the government’s target is difficult, but he believes that it is a feasible target if you see Japan becoming carbon neutral by 2050. He said further, that Honda is in full support of achieving this target of 46%.

Mibe said that Honda will be investing 5 trillion yen ($46.3 billion) in research and development initiatives over the next six years. 

Known for its fuel-efficient internal-combustion engines, Honda had launched its first mass-produced all-battery vehicle last August.

Honda and GM would jointly develop and introduce a large-sized EV model in North America, using GM’s Ultium batteries in 2024, apart from various other new EV models that would feature a new EV dubbed e:Architecture.

Mibe said that in Japan, Honda is aiming for EV and FCV to account for 20% of sales by 2030 and 80% by 2035. He said that Honda will include hybrid vehicles in its 2040 target, and said that changing conventional cars to hybrid is a "realistic solution" for the domestic market.

Mibe said the company also aimed to include advanced driver-assistance systems in all of its models in major markets by 2030.

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