Honda unveils its updated EV strategy, will introduce the Honda 0 series, invest 10 trillion yen, and more

19 May 2024, 13:39:59

Honda Motor has unveiled its updated strategy to achieve its electrification target to make EVs and FCEVs represent 100% of its global vehicle sales by 2040. Firstly, as of 2030, Honda will reduce the cost of the battery to be procured in North America by more than 20% compared to the current battery costs. Secondly, it will establish a competitive business structure to reduce the overall production costs by approximately 35%. Moreover, as of 2030, Honda plans to make EVs and FCEVs represent 40% of its global auto sales and to produce more than 2 million units of EVs.

As a part of this strategy, the brand will introduce the Honda 0 EV series - a completely new lineup of electric cars. Earlier in January, Honda unveiled two concept models - the Saloon and the Space Hub. The company will also adopt a new dedicated platform for mid- and large-size EVs, a newly developed compact e-Axle, and the world's top-class ultra-thin battery pack. This will enable the manufacturer to offer improved design, more comfort and space, and lighter vehicles. Furthermore, the Honda 0 Series models which will be introduced in the second half of the 2020s will adopt a centralized architecture, which will consolidate multiple ECUs which are serving individual functions to control the vehicle’s systems, to a core ECU and serve as a single “brain” for the entire vehicle.

In the first half of the 2020s, Honda will stably procure necessary volume of batteries while holding down the cost by strengthening external partnerships for the liquid lithium-ion batteries in each respective region. In the mid 2020s, Honda will begin battery production with its JV partners such as LGES in the U.S. In the second half of the 2020s, Honda will further expand its scope of battery business and strive to build a vertically-integrated and comprehensive EV value chain with a central focus on batteries, that includes all aspects of EV production, from procurement of raw materials mainly for batteries, through production of finished EVs, as well as battery reuse and recycling.

Honda has also outlined its plans for introducing new models. The Honda 0 Series will be for the global market but will be first introduced in North America in 206. A total of seven models will be launched globally by 2030 from small to large size. In China, Honda will introduced 10 EV models by 2027. Honda unveiled the “Ye Series,” a new EV series which will follow the e:N Series currently available, continuing to enhance its EV lineup in China. Starting with the N-VAN e:, a commercial-use mini-EV that will go on sale in Japan this fall, Honda will make sequential introductions of small-size EVs in regions where there is a need for them.

As a conclusion, Honda is planning to invest approximately 10 trillion yen in resources over the 10-year period through FY2031, when the period of full-fledged popularization of EVs is expected to start. Approximately 2 trillion yen for R&D expenditure toward the realization of software-defined vehicles. Approximately 2 trillion yen for the investments and capital contributions related to the establishment of comprehensive EV value chains in key markets such as the U.S., Canada and Japan. Approximately 6 trillion yen, a sum of 3 trillion yen for development-related expenditures and 3 trillion yen for investments, for the areas related to our Monozukuri (art of making things).

News related to Honda

Honda presented the world premiere of GAC Honda GT and Dongfeng Honda GT, the second set of the 烨 (yè) Series ("Ye Series"), a Honda EV series exclusive to the Chinese market, at Auto Shanghai 2025. The GAC Honda GT and the Dongfeng Honda GT models were developed as flagship models of the Ye Series with the goal of offering customers a new sensation of driving pleasure. While each vehicle features the “low & wide”...

24 April 2025

Nissan, Honda, and Mitsubishi today agreed to terminate their MOU regarding the consideration of the structure for a tripartite collaboration, in light of the termination of the MOU signed on December 23 last year regarding the consideration of a business integration between Nissan and Honda. Going forward, the three companies will collaborate within the framework of a strategic partnership aimed at the era of...

13 February 2025

Honda today presented the world premiere of two prototype models at CES 2025 – Honda 0 Saloon and Honda 0 SUV – representing two Honda 0 Series models to be introduced to global markets from 2026. The company also introduced its original vehicle operating system (OS), the ASIMO OS, to be applied to its global EV series. Honda 0 Saloon The Honda 0 Saloon prototype was developed in preparation for a market launch in...

7 January 2025

Sony Honda Mobility Inc. (SHM) announced the first model to be sold under the AFEELA brand at CES 2025 – AFEELA 1. AFEELA 1 is scheduled for U.S. production at an existing, state-of-art plant in Ohio with official sales in California anticipated in 2025 and deliveries anticipated in mid-2026. AFEELA 1 will be available in two trims, with prices starting from $89,900 with a 3-year complimentary subscription for...

7 January 2025

Nissan and Honda have signed a memorandum of understanding (MOU) to start discussions and considerations toward a business integration between the two companies through the establishment of a joint holding company. The first MOU between the two companies was signed on March 15 regarding a strategic partnership for the era of vehicle intelligence and electrification. Since then, the two companies have held...

26 December 2024

Honda will present the world premiere of two Honda 0 Series prototype models at CES 2025 ahead of their introduction to the global market starting in 2026. The company will also introduce the original vehicle operating system (OS) it plans to adopt for its Honda 0 Series models during the event, which will be held from 7-10 January in Las Vegas. Honda premiered the Honda 0 Series and its ‘Thin, Light and Wise’...

26 December 2024

Honda unveiled the demonstration production line for all-solid-state batteries developed independently by Honda for mass production. The line was constructed on Honda's property in Sakura City, Tochigi Prefecture, Japan. While conducting technical verification to establish a mass production process on this demonstration line, Honda will determine the basic specifications of the battery cells, with an aim to begin...

21 November 2024

Honda held its "Honda 0 Tech Meeting" to introduce some of the next-generation technologies to be applied to the Honda 0 Series – a completely new EV model range to be launched globally in 2026. The Honda 0 Series is being developed with new ideas generated from "zero" with a fresh approach to EV development – "Thin, Light, and Wise." Within this, it will offer five core values: Artistic design that resonates with...

8 October 2024

Honda announced that the Honda Saloon, the flagship concept model for the new Honda 0 EV series, has won the "Red Dot: Best of the Best 2024" award, in the Design Concept competition of the Red Dot Design Award, one of the most respected design awards in the world. The Space-Hub, another concept model of the Honda 0 Series, was named a Red Dot winner in the same competition. Representing the major transformation of...

2 August 2024

Nissan, Honda and Mitsubishi Motors have signed a memorandum of understanding to jointly discuss a framework for further intelligence and electrification of automobiles based on the agreement signed by Nissan and Honda on March 15. Nissan and Honda are working to further accelerate initiatives aimed at achieving carbon neutrality and a zero-traffic-accident society. In anticipation of collaboration in areas such as...

2 August 2024

Honda today exhibited and announced new information about the second set of Honda e:N Series electric vehicle (EV) models, the all-new e:NP2 and e:NS2, at the 18th Beijing International Automotive Exhibition (Auto China 2024), which began today. The all-new Honda e:NP2 goes on sale today from GAC Honda, a Honda automobile production and sales joint venture in China. The all-new Honda e:NS2 will go on sale from...

26 April 2024

Honda announced that it plans to build a comprehensive EV value chain in Canada with an approximate investment of CAD$15 billion (USD$11 billion), including investment by joint venture partners, to strengthen its EV supply system and capability to prepare for a future increase in EV demand in North America. The company has begun evaluating the requirements to build an innovative and environmentally responsible Honda...

25 April 2024

Honda today unveiled the (yè) Series (Ye Series), an all-new EV series Honda will introduce to the Chinese market, including the world premiere of the first set of the Ye Series models, namely (yè) P7 (Ye P7) and (yè) S7 (Ye S7), as well as the concept model for the second set of series models, the (yè) GT CONCEPT (Ye GT CONCEPT). Honda is planning to launch a total of six the Ye Series models in China by 2027. The...

17 April 2024

LG Energy Solution and Honda have erected the final structural steel beam at the joint venture’s new EV battery production facility being constructed near Jeffersonville, Ohio. This major construction milestone comes almost one year to the day after the groundbreaking that took place for the over 2 million square feet facility that is expected to be completed by the end of 2024. Projected to reach an overall...

5 March 2024