Honda to make 3 new electric vehicles by 2030

According to a top executive at Honda Motor Co (7267.T), the Japanese automaker wants to create millions of electric cars (EVs) by 2030 utilizing three new dedicated platforms, one of which would be jointly developed with US partner General Motors Co (GM.N).

Honda’s worldwide head of electrification, Shinji Aoyama, told media on Thursday that the company plans to launch an electric mini commercial vehicle in Japan in 2024, based on a new compact electric vehicle platform. In 2026, a full-size electric model will be introduced in North America, based on a new big platform.

Other models will be built on both platforms.

In a video chat, Aoyama added that starting in 2027, a third platform, which he described as “mid size,” will be shared with General Motors.

Early in April, the two corporations announced that they will collaborate to produce “cheap electric vehicles” for global markets, but provided few additional information.

“We haven’t decided whether they’ll be based on Honda’s architecture or GM’s platform,” Aoyama added.

He went on to say, “We haven’t decided which plants (or) what will be produced.” “However, we’re going to share the manufacturing bill of procedure” so that the automobiles can be built at either Honda or GM plants.

Starting in 2024, GM will manufacture two luxury electric SUVs for Honda in North America, based on the dedicated EV platform that underlies GM’s Cadillac Lyriq.

Honda has agreed to employ GM’s next-generation Ultium battery, according to Aoyama, though the specs have yet to be confirmed. However, he stated that the Japanese manufacturer has no intentions to engage in GM’s Ultium battery joint venture with LG Energy Solution (051910.KS) of South Korea.

Honda has stated that by 2030, it expects to produce two million electric vehicles worldwide, including the mid-size models it is developing with GM.

Honda plans to produce 750,000-800,000 electric vehicles in North America and China in 2030, with another 400,000-500,000 in Japan and other countries, according to Aoyoma.