Honda Motor Co. (TYO: 7267) announced Monday its plans to develop electric vehicles through its own architecture. This follows the previous announcement that General Motors (NYSE: GM) is building Honda’s first two electric vehicles.
The Japanese carmaker intends to manufacture its own electric vehicles through its “Honda e-Architecture” after the two GM-made cars go on sale by 2024.
“It’s absolutely our intention to produce in our factories,” Honda of America Executive Vice President Dave Gardner said in a statement.
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Honda officials also relayed that the first electric SUV to be made by GM will be named Honda Prologue. The company projects sales for Prologue to be between 40,000 and 150,000 units per year. The second GM-made vehicle will be an Acura SUV using GM’s Ultium-branded electric vehicle architecture and battery system.
The Tokyo-based automaker previously announced that it plans to phase out all of its gas-powered vehicles in North America by 2040. The company also intends to have 40% of its sales in the region come from battery or fuel-cell powered vehicles by 2030 and 80% from battery or hydrogen powered vehicles by 2035.
Information for this briefing was found via Honda Motors. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
