Honda may be America’s most committed EV automaker, for the moment

The 2023 Los Angeles Auto Show featured the new All-Electric Honda Prologue, showcasing Honda’s commitment to ramping up its North American EV strategy in 2024. Despite other automakers pulling back on EV investments, Honda is investing $11 billion in a Canadian EV hub and transforming its Ohio operations for EV production. Honda’s goal is to have 80% of its vehicle lineup as EVs by 2035 and 100% by 2040. Some critics say Honda is late to the EV transition but others see their strategy as filling a void in the evolving EV market. Honda’s investment in Ohio will allow for increased production of the Prologue, their first mass-market EV. The automotive industry is undergoing a complex transition to EVs, with automakers facing challenges in forecasting the market and making quick pivots due to supply chain complexities. Honda is planning to achieve 100% zero emissions by 2040, using not only electric vehicles but also fuel cells. They are also partnering with GM to produce hydrogen fuel cells. Despite only having one fully electric model, Honda has a trusted brand that consumers believe in for EVs. However, consumer sentiment towards EVs has stalled, with some political barriers as well. Honda needs to capitalize on its brand advantage and get into the EV conversation sooner rather than later.


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