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The Japanese Multinational Honda Revealed Its Strategy in the Electric Car Market, but This Time, Markets in Europe, Brazil, and the USA Were Left Out. The Automaker Decided to Focus Its Investments Only in China.
The Honda multinational shared details of its new comprehensive electric car strategy, which includes two production vehicles and three concepts, under a new electric brand “e: N Series.” The Japanese automaker plans to launch 10 electric vehicle models from the Honda brand in the next five years, but only in China, leaving the Brazilian market and the USA out. That said, Honda stated that it “foresees exporting these models from China”… someday.
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Honda and the Electric Mobility Market
Although the company has already shared goals of having 100% of its sales focused on electric cars by 2040, a large part of this strategy includes hydrogen fuel cell vehicles. In terms of electric vehicles, the Honda multinational remains a few steps behind the rest of the automotive industry.
In fact, the automaker currently offers only one fully electric vehicle – the Honda E in Europe. Recently, Honda announced that its “first batch of electric cars,” the Prologue, will arrive in the United States in 2024 and will be based on GM’s Ultium electric platform.
Following the Prologue’s production capacity of 70,000 units, Honda is anticipating sales of 500,000 BEVs by 2030. Still, Honda’s actual approach to electrification has been random… at least until now. With today’s news, we have a more tangible view of Honda’s transition to an electric vehicle brand, at least in the Chinese market.
Honda Launches Electric Vehicles in China as Part of Its New Strategy
In a press release following a virtual press conference yesterday (14), Honda shared its new electrification strategy for China and revealed the first two electric vehicles available for consumers abroad.
Moreover, Honda shared that all new models in China after 2030 will be electric (it is important to note that this includes hybrids, not just electric). The automaker plans to continue producing the current ICE model, both inside and outside of China, after 2030.
Two production models have already been developed and are scheduled to go on sale in spring 2022 as part of Honda’s new electric “e: N” series.
Honda Comments on Its New Line of Electric Cars, USA and Brazil Are Not Mentioned
The name ‘e: N’ represents Honda’s desire to energize people who are trying to do things on their own initiative in this era of electrification.
The ‘e:’ comes from ‘e: Technology,’ the collective brand for Honda’s electrification technologies with which Honda is committed to carbon neutrality. The letter ‘N’ stands for ‘New/Next,’ representing the creation of new value for the next generation of mobility.
These new electric cars include the e: NS1 produced as a joint venture of Dongfeng Honda and the e: NP1 from GAC Honda.
Honda Will Not Sell Any of These Electric Vehicles Outside of China.
So far, Honda’s focus is strictly on China. However, the Japanese automaker said that it “foresees exporting these models from China” but does not know when.
Currently, Honda has two new factories specifically dedicated to electric vehicles planned for GAC Honda and Dongfeng Honda. Production of the company’s new electric cars is set to begin in mid-2024. Ultimately, the multinational reiterated that it does not initially intend to export its vehicles to the USA or Brazil.
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