Honda, an automobile manufacturer, has announced that it will launch the first EV = electric vehicle in the Chinese market next spring and will build two dedicated factories locally.
We aim to increase our presence in the world's largest EV market.
Honda announced on the 13th that it will launch a new EV brand in China, launch the first model in the spring of next year, and increase it to 10 models in the next five years.
In addition to considering exporting the produced vehicles to other regions, the company plans to build two EV factories in China with the aim of starting operations in 2024.
In China, the number of EVs sold is one of the largest in the world, along with Europe, partly because the government is supporting its spread through subsidies.
Honda has set a goal of making all new cars sold worldwide into EVs and FCVs = fuel cell vehicles in 2040, but wants to increase its presence in China, where the electrification of cars is advancing.
In addition to the Chinese market, Toyota Motor will increase the number of EVs from the current 6 to 15 by 2025, including North America, and Nissan will launch 9 EVs and hybrids by 2025. With plans to do so, sales competition for electric vehicles, including those from Europe and local manufacturers, is likely to intensify.