As per ESG Today, the new electrification strategy was revealed by Honda CEO Toshihiro Mibe. Despite the fact that EV adoption slowed in some markets, he states that “Honda is confident that the EV shift will continue to proceed steadily."

Back in 2021, Mibe said that Honda aims to become carbon-neutral across products and operations by 2050, as well as to enable 100% of its sales to be made of BEVs and FCEVs by 2040. BEVs refer to battery electric vehicles, while FCEVs are fuel cell electric vehicles, powered by hydrogen fuel cells, both alternatives being zero-emissions.

One of the long-term strategies adopted by the Japanese company is integrating battery development in key markets, such as the US, Canada and Japan, which could enable a 20% drop in battery prices compared to those of today.

Additionally, Honda plans to launch 7 new fully electric models by 2030, from small to large cars, as well as a micromobility solution for the Japanese market.

Honda officials said that the company "has not changed its belief that EVs are the most effective solution in the area of small mobility products such as motorcycles and automobiles, and Honda’s electrification target to make EVs and FCEVs represent 100% of its global vehicle sales by 2040 remains unchanged."