1. Honda maintains its belief in EVs for small mobility products.
2. Honda plans to achieve 100% EV and FCEV sales by 2040.
3. Honda aims to reduce battery costs by 20% and overall production costs by 35% by 2030.
Honda has a strong belief in the effectiveness of electric vehicles (EVs) for small mobility products like motorcycles and automobiles. They aim to make EVs and Fuel Cell Electric Vehicles (FCEVs) represent 100% of their global vehicle sales by 2040. Honda plans to establish a vertically-integrated EV value chain with a focus on batteries to reduce costs and increase production efficiency.
The Honda 0 Series, a global EV series, will include seven models launched by 2030, ranging from small to large sizes. Honda will also introduce micro-mobility products equipped with Honda Mobile Power Packs, enhancing the applications of MPPs. Honda plans to invest approximately 10 trillion yen in resources by FY2031 to prepare for the full popularization of EVs.
Honda’s financial strategy includes allocating resources strategically, investing in R&D for software-defined vehicles, building comprehensive EV value chains, and advancing EV production technologies. They plan to generate significant operating cash flow and aim for a return on sales of 5% for their EV business by 2030. Additionally, Honda will focus on increasing unit sales of motorcycles in emerging markets and improving profitability in the EV business while ensuring shareholder returns through stable dividend payments and expeditious share buybacks.