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Honda to Sell Only EVs in North America by 2040

With the automotive industry's steady transition to electrification and self-driving vehicles, more and more car manufacturers are setting new goals. Whether electromobility will achieve a breakthrough in the long run and whether there will be a structural change within the automotive sector ultimately depends on technical progress and regulations.
Honda announced plans to increase the sales of EVs and fuel cell vehicles to 100 percent of total sales by 2040 in North America 1 photo
Toshihiro Mibe, the new president of Honda, announced on Friday 23rd that Honda aims to sell only EVs and fuel cell vehicles by 2040. The company plans to increase the sales to 40 percent by 2030 and to 80 percent by 2035. By 2040, it pursues 100 percent sales for zero-emission vehicles in North America.

In 2020, Honda will introduce a new range of electrirc cars built on its new e:Architecture platform. The plans include launching two large EVs jointly developed with General Motors in North America. These EVs will be firstly sold as model year 2024 vehicles, then the rest of the world will follow suit as the company plans to launch ten new cars in China in the next five years.

Honda also aims to introduce the Cruise Origin, an electric self-driving vehicle Honda is currently developing jointly with GM and Cruise, on the Japanese market in 2020. The company's plans include implementing driving assistance into all its models in major markets by 2030.

Focused on reducing CO2 emissions in North America, the company has entered into long-term virtual power purchase agreements (VPPAs) for sustainable wind and solar power that cover over 60 percent of the electricity used. Honda's use of these VPPAs in Ohio, Indiana, and Alabama facilities will ensure that they reach a carbon-neutral target.

The announcement touches upon the motorcycle industry as well through a strategy that includes electrification and the use of biofuels.

Toshihiro Mibe disclosed that 5 trillion yen ($46 billion) will be invested in the R&D to reach its goals.

Honda is not the only company to announce big goals for zero-emission vehicle sales. This week, in a press release, Toyota stated that it plans to introduce globally 15 BEVs by 2025. Volvo also announced back in March that it is preparing to become a fully electric car company by 2030.

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