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Honda said today that it will spend 8 trillion yen ($64 billion) on research and development over the next 10 years, including about 5 trillion yen ($40 billion) in electrification and software technology. it said it would launch 30 electric vehicles worldwide by 2030, with an annual output of more than 2 million. In addition, 43 billion yen (about 2.184 billion yuan) will be invested in a demonstration line for the production of solid-state batteries, which is expected to start production in the spring of 2024.

It is not difficult to see Honda's determination to enter the new energy car track. As early as 2021, Honda said it would stop selling gasoline-powered cars by 2040. 40% of global sales in 2030 will be made up of battery electric vehicles and fuel cell vehicles, reaching 80% in 2035 and 100% in 2040. Honda announced its electrification strategy last year that it plans to launch 10 eRO N-series electric vehicles in China within five years, two of which will go on sale this year. Among them, the e:NS1, the first model of Dongfeng Honda eRu N brand, will go on sale on April 26th.

It is understood that Dongfeng Honda e:NS1 has been unveiled at the 2021 Wuhan Motor Show, positioning compact pure electric SUV, length, width and height are 4390/1790/1560mm, wheelbase is 2610mm. According to the application information, the car is equipped with a TZ190HSBMCF61 and TZ190HSAMCF61 drive motor produced by Weili Automotive Electronics (Tianjin) Co., Ltd., with a maximum power of 182hp (134kw) and 204hp (150kw), respectively, and CLTC comprehensive mileage of 420km and 510km.

In addition, Honda also said it plans to build several specialized electric vehicle production plants in China. Earlier, according to Caijing Automotive, Dongfeng Honda took over the second factory of DPCA in Wuhan Economic and technological Development Zone. It is understood that after taking over, Dongfeng Honda will transform the plant into a new factory specializing in pure electric cars. On April 5, Honda and General Motors announced a cooperation agreement to build a new platform to build low-cost people-friendly electric vehicles in order to ensure the stable purchase of liquid lithium batteries. The two sides expect the new model to go on sale in 2027 at a lower price than the Chevrolet Equinox (priced at $30, 000).

It is worth noting that when car electrification becomes the trend of automobile development in the future, it is undoubtedly a great challenge for traditional automakers to switch to the new energy car track in order not to be left behind in the new energy car track. At present, Honda is not alone in the field of electric vehicles. In fact, Japanese car companies such as Nissan and Toyota are vigorously injecting electric transformation. Nissan released Vision 2030 earlier. It plans to invest 2 trillion yen (about 112.84 billion yuan) in the next five years to accelerate the layout of electric-driven products and technological innovation. By fiscal year 2030, 23 electric-driven models will be launched, including 15 pure electric models. In the Chinese market, Nissan aims to achieve the goal of accounting for more than 40 per cent of total model sales by fiscal year 2026. Toyota has also launched a $35 billion all-electric car-building program that aims to increase global annual sales of all-electric vehicles to 3.5 million by 2030.

In the environment of the rapid growth of new energy vehicle sales, traditional car companies are also under a lot of pressure, many traditional car companies are actively transforming to electric, the transformation of traditional fuel vehicles into new energy vehicles has also become an inevitable trend. At present, there are broad prospects for the growth of the electric vehicle market. In the next 10 years, the annual sales of global electric vehicles are expected to increase from about 1 million at present to more than 10 million. This figure also means that the competition in the electric vehicle market in the future is fierce. In order to survive in the fierce new energy track, large research and development costs must also be invested.

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