Honda Doubles Down and Declares EVs Are Its Future

Jack Fitzgerald
·3-min read
honda crv e fcev
Honda Stands Firm on Full Electrification EffortsHonda

  • In a new road map showing Honda's investment and production plans moving forward, the automaker doubled down on full electrification, recommitting to 100 percent EV and fuel-cell (FCEV) sales by 2040. (Pictured above is the 2025 Honda CR-V e:FCEV.)

  • The automaker is putting a central focus on battery technology and plans to invest over $60 billion in electrification through 2030.

  • Additionally, the company aims to reduce battery costs by more than 20 percent compared to today's pricing, while also reducing overall production costs by 35 percent.

Selling electric vehicles is hard. At least, it is in the United States where it's never been harder to buy a single-family home and some people's commute is equivalent to crossing a small European country. Those roadblocks aren't stopping Honda, though. That was made clear in a business briefing led by Honda Motor global CEO Toshihiro Mibe earlier today, where the automaker doubled down on electrification and said it's recommitting to have 100 percent EVs and FCEVs by 2040.

All In on Batteries

Despite the slowing market growth in some regions, Honda has no intention of backing away from electric vehicles. The automaker's plan hones in on battery technology and production. The automaker said Thursday that it aims to invest tens of billions of dollars in its electric vehicle strategy through 2030.

honda saloon and spacehub concepts
Honda

The lion's share (60 percent) of those investments will go toward the production and development of new electric vehicles and motorcycles. Roughly 20 percent will be channeled toward capital expenditures in key markets such as the United States, Canada, and Japan, while the remaining 20 percent (roughly $12 billion) will be directed to research and development of "software-defined mobility."

Targeting 2030

Honda plans for EVs and FCEVs to make up 40 percent of its global sales by 2030. Starting with the recently introduced Prologue electric crossover, Honda is also hoping to produce two million EVs by the same point. Following unsuccessful runs of the Clarity sedan and Fit EV, the 2024 Prologue is Honda's first real attempt at selling a passenger electric vehicle in the United States.

honda ev projection plan
Honda

Honda's new EV line, named the O-series, is scheduled to join the Prologue in 2026, rounding out Honda's electric portfolio in North America. The first vehicle in the O-series will be based on the Honda Saloon preview earlier this year at CES and will follow Honda's "Thin, Light, and Wise" development approach.

We don't have any specifics for the Saloon-based production vehicle beyond the stated target for charging metrics that will allow it to charge from 15 to 80 percent in less than 15 minutes, but Honda described the production version as "very similar." We also know the production car will be built on a new dedicated platform for mid- to large-size EVs, which has been developed using some of the previously mentioned development funds.

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