Honda Motor Company might change its EV roadmap if the demand for electric vehicles continues to fade. If this happens, the Japanese automaker will add to the list of global automakers that have started to revise their electric vehicle strategies in the wake of a downward trend in electric vehicle sales. As per Bloomberg, Toshihiro Mibe, Honda Motor Co.'s Chief Executive Officer, said, "There's enough room to adjust the timeline of establishing EV factories globally and change our strategy should things move in an unexpected direction." He further said that this move could include delaying the setting up of BEV production lines.
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If Honda goes ahead with this move, it won't be the only carmaker to do so. Volvo Cars AB has recently revised its goal of selling only electric vehicles by the end of this decade. Toyota has delayed the production of its first made-in-US BEV by 2026. Honda's current goal is to wrap up the sale of combustion engine vehicles by 2040. According to Bloomberg, Honda sold 13,000 electric vehicles globally, 0.7 % of its total vehicle sales. Honda currently has 11 electric cars in its global portfolio.
For now, Honda is going ahead with its electric vehicle strategy. As per Bloomberg, the Japanese carmaker has pledged an investment of 10 trillion Yen in May this year towards its electrification goals. The brand will soon launch N-VAN e in Japan, with more electric vehicles coming from other markets. According to Bloomberg, Honda will launch premium EVs under its Honda 0 series in the North American markets as early as 2026. These cars will be loaded with the latest Honda software and features, such as automatic door unlock and face recognition technology.
Source: Bloomberg