New Division In Honda Will Speed Up Electrification, Announce New Collaboration

[Vernon]

Honda Motor Company revealed on Tuesday, January 24, 2023, that it would carve out a new division with the sole purpose of strengthening and speeding up its electrification business. This is part of the automaker’s drive to overhaul its organizational structure. Honda has been on the back foot in the fast-growing electric vehicle market and … (read full article...)

 

[Voltaiz]

Honda will create a new division in a bid to strengthen and speed up its electrification business as part of an overhaul of its organizational structure. Honda's new unit will consolidate the automaker's electrification strategy and vehicle development as it aims to catch up with Tesla and China's BYD in the EV race. Effective April 1, the new division would consolidate Honda's electrification strategy and development of automobiles, motorcycles and power products such as generators.

 

[Amperix]

In 2020, Honda announced that it would launch two fully electric SUVs in Europe by 2024, with plans to make electric vehicles account for two-thirds of its sales by 2030. The company also partnered with General Motors to jointly develop EVs and battery technology, with plans to release two electric vehicles based on GM's Ultium battery platform by 2024. Honda's efforts to compete in the EV market also include the launch of the Honda e, a compact electric vehicle that was released in Europe and Japan in 2020. The Honda e features a range of up to 137 miles on a single charge, and has been praised for its unique design and advanced technology. While Honda faces stiff competition from Tesla and BYD, the company has a long history of innovation and a strong global presence, which could help it gain market share in the rapidly growing EV sector. However, the success of any company in the EV market will depend on a range of factors, including the cost and range of their vehicles, as well as the availability of charging infrastructure and government incentives to support the transition to electric transportation.