Honda Plans To Sell Only EVs By 2040 Globally; Announces EV Launch Across Major Markets

Honda Motor Co Ltd HMC announced corporate transformation initiatives, including the electric vehicles (EV) introduction plan, in today's business briefing.
The Japanese automaker disclosed the launch of four EV models in Japan from 2024-2026 and one new mid- to large-size electric vehicle in North America in 2025.
Honda will launch 10 EV models in China by 2027 and expects EVs to represent 100% of sales by 2035.
Honda will also introduce 10 or more electric motorcycle models globally by 2025 to boost electric model sales to 3.5 million units annually.
In North America, Honda, in partnership with General Motors Co GM, plans to develop affordable electric vehicles that are expected to go on sale in 2027.
Honda will collaborate with Taiwan Semiconductor Manufacturing Co Ltd TSM to ensure stable procurement of semiconductors.
Honda has bagged an annual budget of around 100 billion yen for investing in next-generation mobility research and created Honda Innovations Co., Ltd. in Japan to boost open innovation with startups.
The company plans to sell only electric vehicles by 2040 globally.
Price Action: HMC shares are trading higher by 0.04% at $25.88 on the last check Wednesday.