Monday, July 15, 2024

Honda Will Launch 30 New Electric Vehicles By 2030

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Honda Motor Co. announced their plan to be able to produce as many as 30 new electric car or electric vehicle (EV) models by 2030, at a live company briefing event, Monday night (11/4).

Not only from the large number of models, the plan is that the 30 new electric cars will have a significant impact on the production of Honda’s four-wheeled vehicles, because they will be presented in a production volume of up to 2 million vehicles per year.

This number is targeted, with the aim that their electric car production can reach 40% of the total production of all four-wheeled vehicles by 2030.

In line with the target they unveiled last year, to shift all of its car sales to electric and fuel cell vehicles by 2040.

Interestingly, as a first step, the Japanese auto giant will start by introducing a super cheap electric car in a mini-EV model in 2024 in the local market of Sakura.

With details that have not been disclosed directly, the mini-EV is rumored to be selling for only around 1 million yen or US $ 8,000. Although it is likely that it will not be produced on a large scale yet, due to the lack of electric car charging infrastructure in Japan at this time.

See also: Honda to Spend US$64 billion on EVs research and development

In the same year, Honda also plans to introduce two medium to large electric car models – the Honda Prologue SUV and the Acura SUV – which they are currently developing with General Motors.

The two electric cars will be marketed in North America, with prices that are also claimed to be competitive with conventional cars or ICE (internal combustion engines).

Regarding electrification, Honda CEO Toshihiro said that his company has prepared funds of up to US$40 billion (5 trillion yen) for the next ten years. The money will be spent on building their own electrification architecture as well as exploring new growth opportunities in space exploration, eVTOL, robot avatars, and more.

Even for the next 10 years, Honda will also invest about US$64 billion (8 trillion yen) in research and development, and an additional $80 million (10 billion yen) per year in start-ups that can help the automaker expand its business and move away from product sales. themselves, to offer a combined solution.

Last month, Toshihiro himself said that they would rely on external funding methods based on need, issuing $2.75 billion USD-denominated Green Bonds.

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