Honda to Manufacture Its Own EVs

Looking to cut their carbon emissions and reduce their reliance on the fossil fuels responsible for these emissions, several countries plan to gradually replace conventional vehicles with electric cars over the next couple of decades. The move toward electrification hasn’t been limited to just governments; sensing the winds shift away from the century-old internal combustion engine, plenty of automakers have also pledged to electrify their vehicle lines. Honda, which had until recently partnered with General Motors to build EVs, has announced that it will start manufacturing its own electric vehicles (“EVs”) later in the decade.

Currently, General Motors and Honda have partnered on electric and hydrogen fuel cell vehicles, with GM building Honda’s first fully electric vehicles, which will go on sale in 2024. GM will build two EVs for the Japanese automaker: a Honda Sport SUV dubbed the Prologue and an Acura SUV, with Honda working on the bodies, interiors and driving characteristics, and GM using its own battery systems and EV designs. After these two electric SUVs are unveiled, Honda will start developing its own electric cars, company officials say, but they didn’t say whether they would still use parts from General Motors.

Dave Gardner, executive vice president for Honda of America, says manufacturing gas-electric hybrids has given the company plenty of battery manufacturing expertise, and it “absolutely intends” to use that resource in its own factories. This April, the company pledged to phase out the sale of petrol and diesel-powered cars in North America by 2040, stating that it would like 40% of its North American sales to be fuel cell or battery-powered by 2030 and 80% of all its sales to run on alternative fuels by 2035. However, until the recent announcement, it had not revealed any plans to build an electric vehicle on its own.

The Japanese automaker’s initial plan had been to hybridize its internal combustion engine vehicles to meet strict pollution and government fuel economy standards. However, Gardner says global policies aimed at combating climate change as well as President Joe Biden’s green energy plan pushed Honda to full electrification. The move toward making its own EVs will mark Honda’s first steps towards switching its line up to zero-emission vehicles by 2040.

While both government and automakers, as well as EV startups, have been making grand plans regarding electrification, EV penetration is still quite low. This may be partly because electric vehicles are still too expensive for the average driver coupled with range anxiety due to the insufficient public EV charging networks. However, as electric cars become cheaper to manufacture and more public charging stations are installed across different countries, electric vehicle adoption is bound to increase.

When Honda eventually begins making its own EVs as it plans to, it will join the likes of ev Transportation Services Inc. that already have electric vehicles on the U.S. market.

NOTE TO INVESTORS: The latest news and updates relating to ev Transportation Services Inc. are available in the company’s newsroom at https://ibn.fm/EVTS

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