Honda to scale back on EVs and concentrate on hybrids
CEO Toshihiro Mibe told a press conference the automaker has lowered its planned investment in electrification and software through the 2030 business year to ¥7-trillion (R875,694,424,000) from ¥10-trillion (R1,252,332,000,000) previously.
"Based on the current market slowdown, we expect EV sales in 2030 to fall below the 30% we previously targeted," Mibe said, adding battery-powered cars might make up only around 20% of the company's sales by then.
Honda said it expects to sell 2.2-million to 2.3-million hybrid vehicles by 2030. It has not released a total sales target for that year.
It plans to launch 13 next-generation hybrid models globally in the four years from 2027. It will also develop a hybrid system for large size models it plans to launch in the second half of the decade.
Earlier this month, Honda announced it had put on hold for about two years a C$15-bn (R193,322,252,140) plan to build an EV production base in Ontario, Canada, due to slowing demand for electric cars. Honda said, however, it plans to have battery-powered and fuel-cell vehicles make up all its new car sales by 2040.
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The Citizen
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IOL News
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Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ And this is what makes it more economical than a traditional PHEV, which can get thirsty after the battery is depleted. This is because in series hybrid mode, the petrol engine is operating in a more efficient range as it powers the battery, rather than directly driving the wheels, which the 150kW e-motor does with ease all on its own. 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