Honda Motor plans to grow EV market share in North America, China, and Japan with a goal of making more than 2 million vehicles annually by 2030. It has secured collaboration with TSMC for automotive chip supply to support the electrification project.
The Japanese carmaker held a press conference on April 26 to brief its progress on business transformation and electrification. Honda has said it will achieve 100% EV and fuel-cell EV sales globally by 2040.
The company said it is taking short-term measures like dual-sourcing key components and developing alternative parts to facilitate stable procurement of semiconductors. For the mid to long term, it has been building cooperative relationships with semiconductor manufacturers like TSMC.
Nikkei Asia reported that Honda did not have direct dealings with TSMC before. When asked about joint development on Wednesday, Shinji Aoyama, the carmaker's executive vice president, said the pair would explore various possibilities in the future.
Toshihiro Mibe, Honda's president, said stable procurement of semiconductors has become essential with the ongoing automotive electrification and digitization, according to Nikkei Asia.
Honda revealed that it targets production of over two million EVs each year by 2030. According to an announcement, it will launch two models it is codeveloping with General Motors, the Honda Prologue and Acura ZDX, in North America next year.
As for the China market, Honda will introduce 10 new EV models by 2027, including the e:N SUV xu that it unveiled at the Shanghai auto show. The company said it aims to achieve 100% EV sales in the country by 2035.
As the world's largest motorcycle manufacturer, Honda said it will roll out 10 or more motorcycle models globally by 2025, growing annual sales of electric models to 15% of total unit sales.
Honda has invested in advanced battery technologies. It said it will codevelop high-capacity lithium-ion EV batteries with GS Yuasa International. In addition, the company will start operating a demonstration line for all-solid-battery production in 2024. It plans to use all-solid-state batteries in models that will be launched in the second half of the decade.
