Although Honda CEO Toshihiro Mibe is clear that rushing into the world of battery power isn’t the strategy at the moment, the company is aiming for ten electric vehicles in the next five years.
Honda does not appear in the top ten list of car manufacturers with a significant presence in the electric vehicle (EV) market. Despite being an early adopter of hybrid technology, Toyota is lagging behind many of its global competitors when it comes to battery-powered four-wheeled vehicles.
Being behind, on the other hand, may indicate that there is a lot of room to catch up. That’s exactly what Honda CEO Toshihiro Mibe is focusing on.
While the Honda e is currently the company’s only fully electric vehicle, it is only available in a few European markets. However, Mibe predicts that by 2040, the company will be entirely electric. The development of up to ten new electric vehicles over the next five years has been confirmed.
What’s The Big Deal?
According to reports, Mibe believes that racing into the world of electric mobility is a bad idea. “We believe there is a rush to electrification, especially since Biden’s (US President Joe Biden) election.” However, it will still take some time. As a result, we don’t want to put too much effort into it right now and exhaust ourselves,” he told Automotive News.
Together, We Have More Power.
Mibe has stated that Honda should consider walking down the EV path with a companion rather than going it alone at this time. “I don’t think we should be doing it alone at this point.” He is said to have said, “We should team up with partners like General Motors and then build to a certain volume to ensure business feasibility.” “For the time being, that is our strategy in North America.” We will consider rolling out Honda original products once we reach a certain volume. And it’s not just EVs.”
Honda and GM have been partners in hydrogen fuel cell and electric vehicles, but Mibe believes that building on this relationship is the best way forward, even if many others believe that partnering with another Japanese automaker, such as Toyota, would be more prudent.
In any case, Honda appears to be content for the time being to play the EV game cautiously rather than go all out.