HONDA ELECTRIC CAR STRATEGY
Honda CEO, Takahiro Hachigo, commits to a 15% EV and 50% Hybrid target of global sales by 2030. Based on its vision of “Blue Skies for our Children,” the Japanese company is working to advance technologies that address society’s environmental and energy concerns. Center to its strategy the company is targeting a 50 percent reduction in its total company CO2 emissions on a global basis by 2050, compared to 2000 levels. The company has been criticized for its lack of adoption of electric vehicles, as it more focused on fuel cell technologies. From 2017 it will launch the 3 variants, Fuel Cell Electric Vehicle, Battery Electric Vehicle and Plug-in Hybrid Electric Vehicle in one model series, the Clarity.
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THE HONDA ELECTRIC CAR STRATEGY IN THE NEWS
2018 Week 14 - Honda and Waymo to partner on self-driving delivery trucks
Waymo CEO John Krafcik in an interview with Bloomberg said that the company is near completing a deal with Honda to develop autonomous delivery vehicles. The partnership will follow on that of Jaguar announced last week. Waymo has already started testing electric trucks in Atlanta last month.
2017 Week 44 - Honda to produce fast charging battery
The Nikkei Asian Review (NAR) reported that Honda would produce fast charging EVs from 2022. According to the NAR, the Japanese carmaker is developing EVs capable of a 240km (150 miles) range from a single 15-minute charge.
2017 Week 42 - Honda Concept Vehicles at the Tokyo Auto Show 2017
The Tokyo Auto Show will be hosted from the 27th of October to the 5th of November, and we can expect a bunch of combustion and electric concept vehicles from regional producers with the least amount of production electric vehicles. Hopefully, we will see an auto show in Japan in the near future brimming with production-ready electric vehicles, in the meantime here are some of the concept electric and autonomous vehicles which would be displayed at the 2017 event.
Honda Concept Vehicles at the Tokyo Auto Show 2017
Honda is set to unveil its new Sports concept, combining AI and electrification which is built on the same platform as the Honda Urban Concept. Honda announced in Week 37 that it intends to produce the Honda Urban Concept in 2019 for the European market as it tries to hasten its EV strategy for the EU.
Honda will also showcase its vision for autonomous electric mobility with the Honda NeuV which explores autonomous car sharing as an application.
The Japanese carmaker is also a popular motorcycle manufacturer and will unveil the electric Honda Riding Assist E at a World Premiere event during the Tokyo Auto Show. According to Honda, the Riding Assist-e features its unique balance control technology, developed through humanoid robot research. The motorcycle automatically balances itself at very low speeds, reducing rider load.
2017 Week 38 - Honda hastens its EV strategy in Europe
Honda announced in a press release that the aims to reach a sales target for EVs of two-thirds by 2025 in Europe, five years sooner than for its global target. The Japanese carmaker aims to achieve this target through releasing a pure electric and plug-in electric vehicle with each new model release from 2019.
2017 Week 37 - Honda Urban concept set for production in 2019
Honda unveiled its Urban EV concept with the intent to launch it in Europe and possibly other markets in 2019.
2017 Week 24 - Honda Clarity lease price set
2017 Week 23 - Honda finally unveils its EV strategy
Honda released its mid-term strategy, Vision 2030, this week as the company plays catch-up to the rest of the market as most of the Japanese automaker’s competitors have already formulated strategies for autonomous and electric vehicles through 2025. Like most of its peers in Japan and Korea, Honda placed its bets on hydrogen fuel cell vehicles, losing valuable runway on the electric vehicle trajectory that most of the sector now find themselves on.
Reuters quoted CEO, Takahiro Hachigo “We’re going to place utmost priority on electrification and advanced safety technologies going forward,” as Honda acknowledged it must look beyond conventional cars to survive. The company targets to have new energy vehicles contribute two-thirds of its model range by 2030, up from 5% currently. Honda has employed nearly $7 billion in R&D spend by March 2018 to support its strategy.
The company further announced that it would unveil a model based on its new independently designed EV platform in the 3rd quarter of 2017. The company will also start selling the Honda Clarity EV in the USA for around $35,000 in the second half of 2017. Unfortunately, the expectations for the Honda Clarity to fail is high as it only has a range of 80 miles per charge, competing with the 2010 Nissan Leaf in 2018.
2017 Week 9 - Honda setting itself up for epic failure with its first EV sedan
Honda is setting itself up for failure with this week’s announcement that the much anticipated mid-sized 2018 Honda Clarity EV will only have an 80-mile range. Despite being a mid-size sedan, with the obvious space benefit it brings, the car will not even compete with smaller compact sedans and hatchbacks, such as the 2017 BMW i3 (114 miles), Nissan Leaf (107 miles) and the VW e-Golf (125 miles). The Honda Clarity EV’s direct competitors in the $30,000 to $35,000 price range, the Hyundai Ionic (124miles) and Tesla Model 3 (200 miles), will put it to shame.
2017 Week 7 - Forecast for electric vehicle participation increases, Honda's strategy not alligned
The respected Economist Magazine this week commented on forecast adjustments by various investment houses for the penetration of electric vehicles. Up till last year, the consensus was that only 4% of new vehicles would be electric by 2025. BNP Paribas now forecast 11% penetration by 2025, while Morgan Stanley see’s a 7% penetration. In 2016 international EV sales increased with nearly 750,000 units (42%) in spite of a low fuel price environment. One factor driving the change of heart are aggressive regulations to support environmental targets. In Norway electric vehicles now makes up 37% of new vehicle fleet amid government support while in China the Government aims to have EV’s make up 8% of new vehicles by 2018. Technology has also moved much faster than anticipated and battery cost, a long time stumbling block is coming down faster than anticipated, with some mega factories coming online within the next two years. Our hearts go out to the automakers that failed to notice the trend, RIP Fiat, Toyota, Honda, Hyundai, and the list goes on, not to mention Big Oil.
2017 Week 6 - Honda and Hitachi creates JV to build electric motors
2017 Week 3 - Honda branded for just complying to minimum regulations.
A report just released by the Californian Air Resouces Board indicated that advancement in electric vehicle technology is happening at a much faster pace than anticipated five years back. The report highlights the efforts by Tesla and Chevrolet to bring affordable and long-range vehicles to the market. The report found expanding charging networks, advancements in battery performance, decreasing cell costs, and the number of models available to the consumer as factors for the improved results. On the other hand, the Board states that not all automakers attack the challenges with the same vigor, with Honda and Fiat Chrysler named as company’s that just do the bare minimum to comply with regulations. We predict this will reflect in the various companies share prices five years from now when the next report takes the pulse of the sector.
2016 Week 51 - Honda in talks with Waymo on self-driving partnership
Following on the success of the Waymo (Google), Chrysler partnership automakers are flocking to the technology company to try and strike deals on self-driving technology. The latest company to announce that they are in talks with the IT giant is Honda. Honda announced that it approached Waymo to allow its vehicles to join testing in four US cities with Waymo’s self-driving technology. Honda targets commercial self-driving models by 2020. Other automaker’s that tried and failed to partner with Waymo includes Ford and GM.
2016 Week 51 - Honda receives a respectable 75% in Auto Brands Customer survey
Honda receives a respectable 75% in Auto Brands Customer survey. Follow the link to see how it faired in comparison to its competition.
2016 Week 27 - Honda announced it will not partake in Formual E for the moment
Nico Prost of team Renault e.Dams beat Bruno Senna in the 9th round in the second season of the Fiat Formula-e at Battersea Park in England. The series is hotting up with Faraday and Dragon Racing announcing a technical partnership where the EV startup will support Dragon Racing through the next 4 Formula series. The next series starts on 9 October 2016. In related news, Honda announced that it would wait for the series to grow before it participates.
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