Honda to become all-electric by 2040.

Honda may stop selling cars with IC engines with an aim to become all-electric by 2040. The decision to go all-electric comes from Mr Toshihiro Mibe at his first press conference after becoming the CEO of Honda Motor Co.

This decision from Honda comes after Japan’s Prime Minister Mr Yoshihide Suga vowed to cut down the emissions by 2030.

During the press conference, Mibe stated “I believe it is the responsibility of an automaker to achieve our carbon-free goal on ‘tank-to-wheel’ basis”, he also added that the government’s target is extremely difficult, but he believes it is still a feasible target from the viewpoint of Japan becoming carbon neutral by 2050.

Honda expects EV and FCV sales to be responsible for 40% of sales by 2030 and 80% by 2035.

Mibe also mentioned that Honda will aim for 20% sales from its EVs and FCVs by 2030 and 80% by 2035. However, he was quick to point out that Honda will include Hybrid vehicles in the 2040 target, as it is a more “realistic solution” for the Japanese market.

To accomplish Honda’s 2040 target, Honda is planning to invest 5 trillion yen ($46.3 billion) in research and development initiatives, including electrification for the next six-year irrespective of the sales revenue fluctuations.

Meanwhile, Honda and GM are jointly developing two large-sized electric vehicles and use GM’s Ultium batteries. The above vehicles are planned for North American markets in 2024.

Companies like Honda set the benchmark in the automotive industry. Decisions like this will urge more automotive companies to take initiatives towards non-polluting vehicles. 

 

Athul Z

Content Creator, MYTYRE.