Honda Motor Co aims to step up its electrification strategy to grab a larger share of the global electric vehicle market. However, the company claims to face stiff competition from Chinese EV makers. Honda CEO Toshihiro Mibe has acknowledged that the Japanese auto giant is lagging behind in the global electric car race. He also said that Chinese EV makers are well ahead in the race. However, Sanbu is confident that Honda can fight back.
Honda has revealed its plans to launch a number of pure electric vehicles in major markets including North America, China and Japan by 2024. The company is focusing on better, more efficient batteries, powerful software and a completely transformed driver interface to catch up to the EV industry leader. In addition, the car company plans to have a dedicated EV factory with a fully overhauled production system and secure semiconductor supply. The car company is considering an accelerated global restart starting in 2025.
Also read: Honda previews three new electric SUVs with good looks, due in 2024
Speaking of competition, the Honda CEO said the company’s executives had an unpleasant surprise ahead of the 2023 Shanghai Auto Show, where local brands displayed a variety of advanced electric vehicles in showrooms, while the Japanese automaker It showed three electric SUV concepts that will be launched in China in 2024. “They were ahead of us and even exceeded our expectations,” Mibe added, adding, “We are trying to figure out how to fight back. Otherwise, we will lose the game. We admit we are a bit behind and we are determined to turn things around. “
The Honda chief believes the Chinese electric car maker has made significant progress during the Covid-19 pandemic, when the world was largely cut off from China due to travel restrictions. Honda Chief Operating Officer Shinji Aoyama also echoed Mibe’s comments. “We are overwhelmed by the Chinese,” he said.
First published date: April 27, 2023 at 10:05 AM CST