HONDA will accelerate transition to electric vehicles
2023.01.24 12:40
HONDA will accelerate transition to electric vehicles
By Kristina Sobol
Budrigannews.com – As part of an overhaul of its organizational structure, Honda Motor Co. said on Tuesday that it would create a new division to strengthen and accelerate its electrification business.
The reorganization is part of the automaker’s effort to catch up with Tesla (NASDAQ:) in the rapidly expanding market for fully electric vehicles. China’s BYD Co (OTC:) and Inc. In the EV market, Japanese automakers have been at risk of falling behind their European and American rivals.
According to a statement, the new division would consolidate the Japanese automaker’s strategy for electrification as well as the development of automobiles, motorcycles, and power products like generators in changes that would take effect on April 1.
Additionally, the Japanese automaker stated that it would reduce its current six regional operations to three, which would include North America, China, and associated regions like Japan, the rest of Asia, and Europe.
A spokesperson stated in a briefing that integrating the three was to “rapidly develop the implementation of resource shifts in accordance with the future lineup strategy in line with the electrification acceleration.”
According to the spokesperson, the automaker anticipates offering mid- to large-sized vehicles in North America and China, in contrast to small- to mid-sized vehicles in the rest of the region.
By 2030, Honda intends to produce approximately 2 million EVs annually and introduce 30 EV models worldwide.
