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Honda’s new CEO wants all of its vehicles to be electric by 2040

According to Honda CEO Toshihiro Mibe, the company plans to boost its electric and fuel cell vehicle sales to 100% of total sales by 2040.

Mibe said the company backed the government’s green goals during his first press conference.

“I believe it is an automaker’s duty to achieve our carbon-free target from tank to wheel,” Mibe said.

Electric and fuel cell vehicles are expected to account for 40% of sales in 2030 and 80% by 2035 in all major markets, including North America and China, according to the company.

Honda’s announcement of its electrification strategy follows Prime Minister Yoshihide Suga’s pledge that Japan would aim for a 46% reduction in emissions by 2030.

According to Mibe, the government’s target is “feasible.”

“As for Honda, we fully support this target and would like to devote all of our efforts to achieving it,” he added.

Honda will invest approximately $46.3 billion in research and development initiatives, including electrification, over the next six years, according to Mibe.

Mibe took over as CEO at a time when automobile technology was shifting toward electric vehicles and self-driving cars. Honda debuted its first mass-produced all-battery vehicle in August of last year.

Source: Tech Gist

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