Honda Makes a Major Move to Take On Tesla, Ford

honda makes a major move to take on tesla, ford

Honda Makes a Major Move to Take On Tesla, Ford

Honda plans to start an electric vehicle division to compete with U.S. and Chinese EV makers.

Japanese automaker Honda Motors  (HNDAF)  said it plans to launch an electric vehicle (EV) division in an effort to compete with other EV giants such as China’s BYD and U.S.-based Tesla  (TSLA) – Get Free Report.

Honda needs to catch up quickly as traditional auto manufacturers began prioritizing EVs several years ago to meet demand from consumers who no longer want to buy gas-guzzling cars and trucks.

The automaker said its new division will be launched on April 1. It will combine its electrification strategy and its development of automobiles, motorcycles and power products such as generators, according to a statement.

Honda also said it would consolidate its current six regional operations to three – they would consist of North America, China and nearby regions including Japan and an operation that includes the remainder of Asia and Europe.

The merger of the three regions will allow Honda to “rapidly develop the implementation of resource shifts in accordance with the future lineup strategy in line with the electrification acceleration,” a spokesperson said in a briefing according to Reuters.

Honda plans to manufacture mid- to large-sized vehicles in China and North America and plans to sell small to mid-sized cars for the other two regions, the spokesperson said.

Honda Is Pivoting Strategies

In 2022, Honda’s strategy included manufacturing 30 EV models globally so it can reach a goal of selling two millions EVs annually by 2030.

Afeela, an EV developed by Honda and Sony (HNDAF) , made its debut at the Consumer Electronics Show in Las Vegas on Jan. 4.

Sony Honda Mobility, a joint venture announced last year, said that Afeela represents “feel,” which, the company said “is at the center of the mobility experience.”

The company said it wants to provide intuitive navigation through augmented reality using its sensing technology.

Afeela will be produced at one of Honda’s 12 plants in the U.S. and pre-orders will be taken during the first half of 2025, while sales will start by the end of 2025. Delivery in North America will begin during spring 2026.

Sony Honda Mobility said it intends to develop Level 3 automated drive under limited conditions and to enable Level 2+ driver assistance in even more situations such as urban driving.

In 2022, Honda launched the Legend, a luxury sedan equipped with the world’s first certified level 3 autonomous driving technology.

Honda is not a newcomer new to the EV market and manufactured its version of an EV back in 1997 with the Fit EV-Plus, or the Honda EV Plus, as it’s more commonly known.

The company also made an electric version of the Honda Fit hatchback in 2012, the space-age-inspired MC-β in 2014, and the Clarity Electric in 2016.

Why Honda Needs to Catch Up

While Honda and Toyota have long maintained large portions of the market share of gasoline-powered cars, the country has lagged behind both their U.S. and European counterparts who have ramped up their offerings and longer range, which has long been an obstacle to attract some drivers from making the switch.

In recent years, Honda has fallen behind in its market share as buyers have sought either EVs or hybrid.

Sales in the U.S. totaled 222,049 during the September quarter for Honda, a decline of 36% from a year ago, as supply chains woes from a lack of semiconductor chips contributed to lower production. The number of vehicles sold was 100,000 below the 345,000 mark reached during the first quarter of 2021. Honda’s total market share declined to 6.5% in 2022, compared to over than 10% of the market in 2021, according to data from Cox Automotive.

Sales for Honda’s July-September quarter fell as the automaker reached its fifth consecutive quarter of losses.

Honda’s EV Battery Plant Efforts

Last October Honda revealed the location of its new electric vehicle plant: Ohio. The Japanese auto maker and LG Energy Solution will invest $4.4 billion to manufacture batteries for its new models.

The company is the latest entrant to the rising competition and said on Oct. 11 that its lithium-ion battery factory would be located in Fayette County, Ohio, about 40 miles southwest of Columbus.

The two companies plan to invest $3.5 billion initially and hire 2,200 employees in the joint venture, but plans to spend a total of $4.4 billion overall.

The automaker also plans to spend more capital to retool three plants in Ohio at a cost of $700 million, plus hire 300 new employees to ramp up more production of EVs.

Construction at the new factory will start in early 2024 and is anticipated to be completed by the end of 2024. The goal of the plant is to start mass production of pouch-type lithium-ion batteries by the end of 2025.

Production of EVs is expected to start in the U.S. by 2026, the company said.

Battery cases will be produced at Honda’s Anna, Ohio engine plant. Those cases will be combined with battery modules from the joint venture, which will be placed into EVs built at two other plants in Ohio.

News Related

OTHER NEWS

CCTV: Officer engulfed as he shuts door and dislodges load of snow

Police in Wisconsin issued a statement saying: "Have a safe and uneventful evening with the forecasted winter storm." Read more »

Rep. Alexandria Ocasio-Cortez Slams Republican Who Urged Her To 'Educate' Herself

Rep. Alexandria Ocasio-Cortez (D-N.Y.) went after Rep. Jeff Duncan (R-S.C.), who called on her to “educate” herself during a debate Thursday over a bill on the House floor. The Democrat ... Read more »

Orange County’s purple hue

Orange County’s purple hue IRVINE, California — Orange County was once so reliably red that then-President Ronald Reagan affectionately said the coastal enclave south of Los Angeles is “where good ... Read more »

Best NHL trade deadline destinations for Blackhawks star Jonathan Toews

1/26/23 The March NHL trade deadline is getting closer, which means the focus on Chicago Blackhawks star center Jonathan Toews on only going to get more intense. Toews has yet ... Read more »

A beloved Churro Vendor In Downtown Was On Her Way To Work When She Was Struck And Killed By A Drunk Driver

The incident occurred this past Sunday as Angeles Rodriguez a street vendor known for selling churros and fruit in Downtown Los Angeles was heading to work when she was struck ... Read more »

Video Captures Fight, Moment CTA Worker Shot Man Multiple Times at Red Line Station

Sylvester Adams, 53, was charged with attempted first degree murder and aggravated unlawful use of a weapon in connection with the shooting of the 37-year-old victim Read more »

Democratic Florida Senate Leader Lauren Book Introduces Bill To Ban ‘Gay/Trans Panic Defense’

FILE PHOTO: A participant holds rainbow flags at the international Rainbow Memorial Run during the inauguration of the Gay Games village at the Hotel de Ville city hall in Paris, ... Read more »

25 Arrested and Charged in Fraudulent Nursing Diploma Scheme That 'Erodes Public Trust' in South Florida

google More than 7,600 fraudulent diplomas were allegedly issued by three nursing schools in South Florida. The U.S. Department of Justice announced the arrest of 25 individuals in a statement ... Read more »

US ban on China chip exports rebounds, causes 2,700 American job losses

US ban on China chip exports rebounds, causes 2,700 American job losses California-based chipmaking kit-maker Lam hit by DRAM decline, inability to export to Middle Kingdom The Biden administration’s policy ... Read more »

Mexico gripped by ex-security chief's US drugs trial

Genaro Garcia Luna with then-US secretary of state Hillary Clinton in Mexico City in March 2009 Mexico is on tenterhooks awaiting fresh revelations from the US trial of former security ... Read more »

The Last of Us Images Spotlight Nick Offerman as a Very Different Bill

The Last of Us Images Spotlight Nick Offerman as a Very Different Bill Nick Offerman is coming to the next episode of HBO’s The Last of Us, and the actor ... Read more »

Best Alabama-Bryce Young replacements in 2023

Alabama football, Jalen Milroe Alabama did not make the College Football Playoff this past season, and that’s almost certainly going to mean extra motivation for head coach Nick Saban’s team ... Read more »

Man appears in federal court to face Capitol riot charges

FLINT, Mich. (AP) — A mid-Michigan man says he’s innocent of the charges brought against him in connection with the Jan. 6, 2021, Capitol riot in Washington. Isaac Thomas of ... Read more »

AI wildfire detection bill gets initial approval in Colorado

File—Flames rise from mountain ridges as a wildfire burns near a farmstead late Thursday, Oct. 22, 2020, near Granby, Colo. A bill is being introduced in the Colorado Legislature to ... Read more »

FDA Experts Vote to Make All COVID-19 Vaccines and Boosters Bivalent

FDA Experts Vote to Make All COVID-19 Vaccines and Boosters Bivalent In a unanimous decision, all 21 voting members of the U.S. Food and Drug Administration’s (FDA) vaccine committee recommended ... Read more »

8 biggest 401(k) mistakes to avoid

Businessman working on laptop in startup office A 401(k) can be a great way to save for retirement, but a few wrong decisions can derail your progress. Not planning or ... Read more »

'Sister Wives' Star Meri Brown Preaches To 'Look For A Way To Lift Someone Up' Amid Abuse Allegations

@therealmeribrown/instagram Sister Wives star Meri Brown took a moment to reflect on the importance of lifting people up rather than dragging them down as several of the Brown family children ... Read more »

Search underway for missing Oahu woman; case believed linked to man found dead

HONOLULU (HawaiiNewsNow) – Authorities are asking for the public’s help to find a missing woman and sources say her disappearance may be linked to a separate case in which a ... Read more »

World champion says Rubik's Cube and violin go hand in hand

World champion says Rubik's Cube and violin go hand in hand A University of Michigan student is one of the world’s foremost “speedcubers,” a person capable of quickly solving a ... Read more »

78 years on, Jewish Holocaust rescuers want their story told

78 years on, Jewish Holocaust rescuers want their story told Just before Nazi Germany invaded Hungary in March 1944, Jewish youth leaders in the eastern European country jumped into action: ... Read more »

Trump's Attempt To Get Immunity From Jan. 6 Capitol Cop's Lawsuit Falls Flat

Trump’s Attempt To Get Immunity From Jan. 6 Capitol Cop’s Lawsuit Falls Flat Former President Donald Trump’s efforts to have a lawsuit thrown out have failed. The legal action was ... Read more »

‘Receding A—Hairline’: LeBron James Restrained By Ref As Heckler Loudly Attacks His Appearance

mega NBA star LeBron James had to be restrained by a referee during Tuesday night’s Lakers-Clippers game, RadarOnline.comhas learned. A video from the game showed the 38-year-old James being held ... Read more »

Texas death row inmates sue over solitary confinement

FILE – The state of Texas execution chamber in Huntsville, Texas, is pictured on May 27, 2008. A group of Texas death row inmates filed a federal lawsuit Thursday, Jan. ... Read more »

Apple's unannounced in-house chip is already reportedly going on the back burner

Apple’s unannounced in-house chip is already reportedly going on the back burner It looks like another one of Apple’s in-house chips is going on the back burner, with the company ... Read more »

3 of the Best Electric Cars According to Kelley Blue Book

Owning an EV here in America is becoming very common, as electric vehicles are slowly winning over consumers in the automotive industry. For environmentalists, an electric vehicle is a better ... Read more »

Frank Vascellaro back at WCCO anchor desk after undergoing shoulder surgery

MINNEAPOLIS — Frank Vascellaro is back at the anchor desk after taking a few weeks off to recover following a bad fall and shoulder surgery. WCCO’s evening anchor slipped and fell ... Read more »

RNC Chair McDaniel fights for reelection in leadership feud

Election 2024 RNC Chair DANA POINT, Calif. (AP) — Republican National Committee Chair Ronna McDaniel is fighting for reelection in a bitter leadership feud that’s testing former President Donald Trump’s ... Read more »

Ex-Fox News staffer files suit alleging Roger Ailes sexually abused her for years

Ex-Fox News staffer files suit alleging Roger Ailes sexually abused her for years A former Fox News employee who alleges its late CEO Roger Ailes sexually abused her for years ... Read more »

Neighbors grateful to floor captain who helped top-floor residents escape Kenwood high-rise fire

CHICAGO (CBS) — Two neighbors on Thursday shared a play-by-play of the intense moments form the fire that broke out in a high-rise in the Kenwood neighborhood the day before. ... Read more »

Jimmy Kimmel becomes emotional on 20th anniversary of talk show

One World Broadcast 2020 Jimmy Kimmel became visibly emotional as he thanked his entire production team and viewers on the 20th anniversary of his US talk show. The comedian and ... Read more »

Statement from Steve Wilks’ lawyer is also a warning to the Cardinals on Brian Flores

Statement from Steve Wilks’ lawyer is also a warning to the Cardinals on Brian Flores The statement came swiftly from lawyer Doug Wigdor. And it should be regarded by Cardinals ... Read more »

Chicago woman's lawsuit: Fireball Cinnamon mini bottles are "misleading" due to lack of whiskey

CHICAGO (CBS) — A class-action lawsuit against the maker of Fireball will cover anyone in Illinois. The lawsuit says the plaintiff, Anna Marquez, is a Chicago resident and bought a ... Read more »

Column: UCLA’s woeful offense needs a Mick Cronin overhaul to be Final Four worthy

The shot clock about to expire, David Singleton heaved the ball from a step or two inside of the half-court line, his effort striking the top of the backboard. UCLA ... Read more »

Driver arrested in South L.A. hit-and-run crash that killed 13-year-old and his baby brother

The suspect in a hit-and-run crash in South Los Angeles that killed a 13-year-old boy and his baby brother has been arrested and charged with murder, police announced Thursday, capping ... Read more »

Boogie Ellis and USC make their NCAA tournament case in furious comeback over UCLA

There wouldn’t be many more shots like this. For USC, a team just rounding into form, opportunities to state its case to the NCAA tournament selection committee were so sparse ... Read more »

CCTV: Car dragged for eight miles under lorry after Missouri collision

Police eventually catch up with and stop the long vehicle, the driver of which was apparently oblivious to the fact that a car was wedged under it. Read more »

Kia Q4 net jumps 63 pct on improved chip supplies, SUV demand

(ATTN: RECASTS throughout with details; ADDS photo) SEOUL, Jan. 27 (Yonhap) — Kia Corp., South Korea’s second-biggest carmaker, said Friday its fourth-quarter net profit soared 63 percent from a year ... Read more »

Sean Payton debunks Broncos head coach rumors

1/26/2023 The Denver Broncos and Sean Payton have had a roller coaster of a relationship this offseason. First Payton was a favorite to land Denver’s coaching job and now he ... Read more »

Boy Cries At His Mom's Grave Saying 'Take Me With You' Until Angelic Woman Walks Up To Him

iStock-483187809 This video story posted by Wonderbot on YouTube shares the story of a little boy who stood at his mother’s grave, begging her to “take me with you,” when ... Read more »

Air India Reportedly Close To Placing Half Of Its Mega Aircraft Order

Air India Reportedly Close To Placing Half Of Its Mega Aircraft Order Air India’s next collective airplane order is said to be one of the biggest in commercial aviation. While ... Read more »
Kênh kiến thức kỹ năng, phát triển bản thân, hướng nghiệp, blog nhân sự