In a major move, Honda aims to sell 100% Electric Vehicles by 2040

Japanese auto major Honda Motor Co’s has decided to gradually phase out its traditional ICE vehicles and has set a target for battery-operated electric vehicles (EVs) and fuel cell vehicles (FCVs) to make up 100% of all its sales by 2040. Speaking at his first press conference since taking the charge of Japan’s second-largest automaker at the beginning of April, company CEO Toshihiro Mibe said that Honda aims to sell only electric vehicles and fuel cell vehicles by 2040. “I believe it is the responsibility of an automaker to achieve our carbon-free goal on a ‘tank-to-wheel’ basis,” Mibe said.

The company plans to tackle the challenge through a collective effort across its entire value chain and expects EVs and FCVs to account for 40% of sales by 2030 and 80% by 2035 in all major markets. Mibe, the former head of Honda’s research and development arm, became Honda’s chief executive on 1 April amid a growing shift in automobile technology to electric vehicles and autonomous driving. He also said, the auto maker aims to include advanced driver-assistance systems in all of its models in major markets by 2030.

Honda’s announcement came after Prime Minister Yoshihide Suga vowed Japan would aim for a 46% cut in emissions by 2030 and look for ways to go even further, nearly doubling from its previous target.

Dubbing the government’s target as extremely difficult, Mibe said, I believe it is a feasible target from the viewpoint of Japan becoming carbon neutral in 2050.” “As for Honda, we are in full support of this target – 46% -and we’d like to put all our efforts towards achieving the goal,” he added.

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Honda’s global car production dropped by 15pc on the year to 4.4mn units in 2020. Domestic car production fell by 13pc to 729,500 units last year. Honda last year launched the Honda e, its first mass-market EV.