Honda hopes to fetch 40% sales from electrified vehicles by 2030
Honda has announced its major plan for electrification, under which it targets to invest at least $40 billion through 2030 to promote hybrid and fully electric vehicles globally. The Japanese automobile manufacturer hopes that by the end of this decade, 40 per cent of its total sales will be attributed to hybrid and fully electric vehicles. Also, the automaker believes that despite the gradual growth and increased emphasis on electrified vehicles, internal combustion engine-powered vehicles will continue to be sold even after 2040.
Honda's investment strategy for electrified vehicles comes amid the auto major's relatively sluggish pace compared to its global rivals like Volkswagen and General Motors, which have already committed billions of dollars to develop and build electric vehicles and batteries. The automaker has established a standalone business unit to oversee the development of its electric vehicles and battery business. Honda would also eventually invest in charging stations, which would be similar to Tesla's Supercharger network.
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Meanwhile, Honda CEO Toshihiro Mibe told Reuters that combustion engines could still be there by 2040, despite the growing focus on electric and electrified mobility. "As we move toward carbon neutrality, we are focused on electrification and fuel cells - those are the two core components of future mobility," said Mibe.
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Honda is currently developing its own EV architectures, which will arrive in the market in 2026, as well as advanced batteries of its own design for some of those future models. The automaker is reportedly working on feasibility studies on various technologies, including chargers, aerial vehicles, rockets and advanced batteries. Also, the auto company claims to be working on a new low-carbon e-fuel that could help internal combustion engines to be in the market for another decade or two.