20 YEAR PROGRAM – Toshihiro Mibe (pictured above), the new CEO of Honda (previously he was head of the research and development division) in office since 1 April, during a press conference, he set ambitious goals in terms of electrification. Mibe said Honda will phase out internal combustion engines in all new cars by 2040. The gradual transition to electric will contribute to achieving energy neutrality in all company activities, expected by 2050. Within the same year, Honda also set itself the goal of producing cars and motorcycles capable of guaranteeing zero fatal accidents, and developing products with sustainable materials at 100%.
INVESTMENTS – The electrification strategy of the Honda it will be in stages and supported, over the next six years, by a investment of 46 billion dollars. The first goal, to be achieved by 2030, is to derive 40% of sales in the main markets from electric and hydrogen vehicles with fuel cells.
THE AGREEMENT WITH GM – A key part of the strategy will also depend on solid state batteries. Honda will start pilot production of these batteries on a test line already this year, and their installation on new electric cars is expected from the second half of the 2020s. Currently, Honda has only one electric on the list. pure, the Honda and, in addition to several electric-petrol hybrids. In the second half of this decade, the launch of a new platform dedicated to electric vehicles called e: Architecture is expected, which will be used first in North America (a key market for home electrification) and then globally.
THE STAGES – Central to the transition will be the North American market, where Honda aims to achieve an EV plus hydrogen car sales ratio of 40% in 2030, 80% in 2035 and 100% by 2040. The recent partnership con la General Motors will help Honda achieve this, as the American manufacturer will supply its new platform, which uses the new generation “Ultium” batteries, to develop two large EVs (one Honda and one Acura), planned by 2024.
MARGINS UNCHANGED – The switch to electrification should not have a major impact on earnings. Indeed Honda wants to achieve a margin of profit of 7%, even in the new phase of its evolution.
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