Honda recently announced its plans to invest heavily in electric vehicles (EVs) and predicted that internal combustion engines (ICEs) will remain relevant after 2040. The Japanese automaker is planning to invest $23.6 billion in EVs over the next five years, with the goal of having two-thirds of its global sales come from electrified vehicles by 2030.
Honda’s investment in EVs is part of its larger plan to reduce its environmental impact. The company has committed to reducing its carbon dioxide emissions by 50% by 2050, and EVs are seen as a key part of achieving this goal. Honda is also investing in hydrogen fuel cell technology, which it believes will be an important part of the future of transportation.
Despite its commitment to EVs, Honda believes that ICEs will remain relevant after 2040. The company believes that ICEs will continue to be used in certain applications, such as commercial vehicles and off-road vehicles, where electric powertrains may not be suitable. Honda also believes that ICEs will continue to be used in some markets where the infrastructure for electric vehicles is not yet developed.
Honda’s investment in EVs is part of a larger trend among automakers towards electrification. Many automakers are investing heavily in EVs, with the goal of having all-electric lineups by 2030 or sooner. Honda’s commitment to both EVs and ICEs shows that it is taking a balanced approach to the future of transportation.
Overall, Honda’s investment plans for EVs and its prediction that ICEs will remain relevant after 2040 demonstrate the company’s commitment to reducing its environmental impact while also recognizing the importance of traditional engines in certain applications. With its investments in both electric and internal combustion technologies, Honda is well-positioned to meet the demands of the future of transportation.
Source: Plato Data Intelligence: PlatoAiStream