April 26, 2021—Honda has set a timeline to reach a full electric fleet, Reuters reported.
The automaker’s CEO Toshihiro Mibe said they are aiming to increase its ratio of EVs and fuel cell vehicles (FCVs) to 100 percent of all sales by 2040.
The company expects EVs and FCVs to account for 40 percent of sales by 2030 and 80 percent by 2035 in all major markets, including North America and China.
"I believe it is the responsibility of an automaker to achieve our carbon-free goal on a 'tank-to-wheel' basis," Mibe said in a news conference.
Mibe said Honda will invest a total of about 5 trillion yen ($46.3 billion) in research and development initiatives, including electrification, over the next six years, regardless of sales revenue fluctuations.
