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Updated January 10th, 2024 at 09:00 IST

Honda accelerates EV strategy with new Honda 0 Series

Despite being Japan's second-largest car maker, Honda has been criticised for a slower pace in adopting EV sales.

Business Desk
Honda
Honda | Image:Pexels
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Honda's EV plans: Japanese automaker Honda Motor has revealed plans for an ambitious electric vehicle (EV) series, the "Honda 0 Series," slated to debut globally from 2026. The move comes as Honda aims to catch up with global competitors in the swiftly evolving landscape of battery-powered cars.

Despite being Japan's second-largest car maker, Honda has been criticised for a slower pace in adopting EV sales compared to European and US rivals like General Motors and Volkswagen. Additionally, the emergence of newer competitors, such as China's BYD, has posed challenges.

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The announcement, made at the CES trade show in Las Vegas, includes two concept models that Honda believes will contribute to achieving its ambitious goal of having all new car sales consist of battery-powered and fuel-cell vehicles by 2040.

Image credit: Pexels

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Honda executives shared plans to roll out the initial models of the Honda 0 Series by 2026, with the global launch commencing in the North American market. However, specific details, such as pricing, the number of models, and targeted sales figures, were not disclosed during the December media briefing in Tokyo ahead of the announcement.

Battery-powered vehicles constituted less than 0.5 per cent of Honda's global sales, around 11,000 vehicles, for the first nine months of 2023. Notably, the majority of these sales (93%) occurred in China, with none reported in North America.

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Previously committing to producing two million EVs annually by 2030, Honda also aims to introduce 30 battery-powered models by that year. Amidst speculation, Honda CEO Toshihiro Mibe hinted at the possibility of building an electric vehicle plant in Canada during a press statement at CES.

One of the concept models showcased at CES was the Saloon, a sedan with a potential seating capacity of four or five passengers. While design details may undergo minor changes, executives indicated that the concept closely resembles the envisioned production model. The other concept, named the Space-Hub, is a van-like vehicle designed to accommodate six or seven occupants.

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Honda's strategic move reflects the broader industry trend toward electric mobility, positioning the company to compete in an increasingly EV-centric automotive landscape.

(With Reuters inputs)
 

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Published January 10th, 2024 at 09:00 IST

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