Honda to launch 30 EV models by 2030, Honda Motor Co. said at a live conference on Monday evening that it will launch 30 electric car models by 2030, with a manufacturing volume of more than 2 million vehicles per year.

Over the next 10 years, the Japanese manufacturer plans to invest $40 billion (5 trillion yen) in electrification, including developing its own electrification architecture and researching new development prospects in space exploration, eVTOL, avatar robots, and other areas.

According to Toshihiro Mibe, Honda’s CEO, the company will invest around $64 billion (8 trillion yen) in research and development over the next decade, as well as an additional $80 million (10 billion yen) per year in startups that could help the automaker expand its business and shift from selling products alone to offering combined solutions.

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At the briefing, Honda SVP Kohei Takeuchi stated that the company will rely on external finance options if needed. Honda said last month that it will issue $2.75 billion in USD-denominated Green Bonds to fund the development and manufacture of zero-emission vehicles. Honda said in June 2021 that it will phase out gas-powered vehicles entirely by 2040.

On Monday, Honda covered a lot of territories, including plans for battery development, the commercialization of its tiny EV, and more, so let’s take a look at the automaker’s new electrification strategy.

By 2024, Honda plans to offer a ridiculously inexpensive mini-EV vehicle for commercial usage in Japan, with a price tag of $8,000 (1 million yen). Honda will next begin to roll out personal use mini-EVs and EV SUVs, according to the firm. According to Mibe, Honda is first selling this car for business usage since Japan lacks the charging infrastructure needed to implement a large-scale EV deployment.

Honda also hopes to offer two mid-to-large EV cars in North America by the same year – a Honda Prologue SUV and an Acura SUV – that are presently being developed with General Motors at costs that are cost-competitive with ICE vehicles.

Honda and GM announced cooperation last week to co-develop electric vehicles in North America by 2027, based on GM’s Ultium platform, that would cost under $30,000.

In addition, the manufacturer has stated that it would construct a dedicated EV production line in North America.

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In addition, Mibe reaffirmed Honda’s prior pledge to launch 10 new electric vehicles in China under the e: N Series by 2027, with two of them, planned to go on sale this year. To assist manufacturing in one of its most important markets, Honda plans to develop a specialized EV facility in Guagzhou and Wuhan.

According to Takeuchi, Honda is also aiming to offer two electric sports vehicles, a specialist and a flagship model, by the middle of the decade, although it’s unclear if these cars will be as inexpensive as the others Honda is planning to release shortly.

 Honda Ev Architecture

While Honda will rely on its cooperation with GM to use the Ultium architecture and electric vehicle platform, the carmaker also plans to develop its own architecture by improving its software capabilities. The Honda e: Architecture, which the firm expects to launch in 2026, will be a cloud-connected electric vehicle platform that incorporates both a hardware and software layer.

Honda, like many other manufacturers, sees the software-defined car as a way to generate recurring money through third-party apps. According to Mibe, this is why it’s constructing an application layer on top of the car operating system that can be updated over the air.

Honda Ev Potential battery 

Honda said it’s looking at the potential of forming a North American joint venture for battery manufacture apart from its GM partnership, but Mibe wouldn’t identify anyone. The automaker’s objective is to secure a steady supply of liquid lithium-ion batteries in the area, as well as in its other two major markets of China and Japan. Honda plans to deepen its existing partnership with CATL in China and purchase batteries for its tiny EVs from Envision AESC in Japan to help with this.

Honda is investing around $343 million (43 billion yen) in the construction of a demonstration line to speed up its independent battery R&D for solid-state batteries. Honda intends to start manufacturing in the spring of 2024 and include its next-generation batteries in vehicles that will be released after 2025.

According to Mibe, Honda is on pace to meet its 10% cost reduction objective for worldwide automotive manufacturing compared to 2018. Despite challenges like as the pandemic and a lack of semiconductors, the company claims it has tightened its business structure and wants to achieve a return on sales of more than 7%.

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