Honda plans to invest about $65 billion in electric vehicles by 2030, which is twice the amount it pledged two years ago. Even though more people seem to be interested in hybrid cars rather than electric ones right now, Honda believes that by the latter half of this decade, there will be a big demand for all-electric cars.
By 2030, Honda aims to produce over 2 million electric vehicles, and it’s predicted that 40% of global car sales will be electric or fuel cell electric vehicles (FCEVs) by then. Honda thinks that by improving its supply chains, the cost of getting batteries for these electric vehicles will drop by more than 20%, and overall production costs will go down by about 35%.
In 2026, Honda will start production of its 0 Series, which includes two new concepts called Saloon and Space-Hub that were introduced at CES 2024. The Saloon will be the main model in this series, and Honda says it will be a lot like the concept.
These new electric vehicles will follow the mantra of “Thin, Light, and Wise,” which means they’ll have a compact electric axle and a thin battery pack, giving more room inside the car. They’ll also be lighter because of a new power unit. Honda will also have a new digital user interface that will be tailored to each customer’s needs.
Instead of having many separate systems to control different functions, Honda’s new electric vehicles will have one main system to make things simpler. Honda also wants to improve its Level 3 automated driving technology to make commuting less stressful.
Honda plans to use the first part of this decade to make sure the cost of batteries stays stable and then start making these batteries on a larger scale in North America. In the middle of the decade, they’ll focus on expanding their electric vehicle business, including reusing and recycling batteries.
Honda aims to have a lineup of 100% electric and fuel cell electric vehicles by 2040. Even though Honda might be joining the electric vehicle scene a bit later than others, it’s getting ready to offer electric cars that are affordable and appealing to customers as more people start choosing electric cars over traditional ones.
