Last year, Honda announced its goal of selling fully electric or fuel cell cars by 2040. The company, which wants to make the transition from fuel-powered cars feasible, announced it will offer its users a broad catalogue of zero-emission vehicles. In Honda’s latest statement, it said a $40 billion budget has been allocated for the transformation, which will span more than 10 years.

The company aims to announce 30 electric car models by 2030 and increase its annual production volume to 2 million vehicles. Honda also counts 40% of its fleet as electric vehicles by the late 2020s among its goals.

According to the TechCrunch report, Honda will launch a very cheap and small electric car in Japan to start the process. A price tag of $8,000 has reportedly been set for the car, which is planned to go on sale in 2024. The company, which will launch electric versions of the Prologue and Acura models, will prepare these cars in conjunction with GM. These vehicles will be sold in North America.

Honda and GM recently announced they will develop affordable electric cars using a global architecture and GM’s Ultium battery technology.

Not all of Honda’s plans for electric cars include collaboration with GM. On the one hand, the company is considering collaborating with other companies to produce batteries. Honda is also preparing a demonstration line for solid-state battery technology, to be ready in 2024.

Honda CEO Toshihiro Mibe reiterated that one of its most important goals in the electric car transformation is to gain a strong position in China. China is currently the largest electric car market in the world.


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