The company plans to use its own electric vehicle platform to develop small cars from 2026.

　　With almost every automobile company turning to electric vehicles, automobile manufacturers have to make short-term and long-term business decisions at the same time, which will fluctuate with the results. This is the case with Honda. Although it has accelerated the development of electric vehicles, the Japanese manufacturer still has realistic expectations for the life of internal combustion engines.

　　Toshihiro Mibe, chief executive of Honda, said in a recent interview with Reuters that due to the problem of charging infrastructure, the internal combustion engine technology could not disappear from the market until at least 2040, or even longer. "The charging infrastructure is not where our customers need it," he said bluntly.

　　This is not a new argument. It is important that the top management of the automaker must recognize this reality, especially when governments around the world are promoting incentives for electric vehicles, such as the Inflation Reduction Act (IRA) of the United States.

　　Mitsubu Minhong is a lifelong gear fan, and he also made it clear that he distinguishes his personal preferences from the whole industry. "I have been engaged in engine development business for more than 30 years, so it is a threat to me personally. But I must distinguish my feelings from what is most beneficial to the business."

　　At present, he hopes that solid-state battery technology can reduce costs and make electric vehicles more affordable. The liquid electrolyte used in lithium-ion batteries has been replaced by more stable materials such as ceramics. This can reduce the size and cost of the battery pack and store more energy, thus making electric vehicles more affordable.

　　However, the high cost of producing solid-state technology means that Honda must ensure that the market is prepared before it is promoted. In addition, Honda lags behind Toyota and Nissan in the pursuit of solid-state battery strategy. The company is carrying out its own solid state project and another project with LG Energy Solution, a South Korean partner.

　　Mitsubu Minhong said that solid-state technology may take several years to prepare for large-scale consumption, and it is difficult to judge when to increase production.

　　At the same time, Honda's first batch of electric vehicles will be larger and more expensive SUVs, built on GM's Ultium EV platform, and will go on sale in 2024. Honda will need to bring more electric vehicles to the market to maintain its competitiveness in the United States and Europe.

　　The company plans to use its own electric vehicle platform to develop small cars from 2026, and the electric Civic will take several years. Mibu Minhong said that Europe and California planned to ban the use of new internal combustion engines by 2035, while in China, a large number of incentives made electrification a requirement.

　　Honda has been slowly following larger competitors from Volkswagen to General Motors, investing billions of dollars in the development and manufacture of electric vehicles and batteries. Now it plans to invest at least US $40 billion by 2030 and aims to increase the sales of hybrid and pure electric vehicles to 40% by the end of the decade.

　　The Japanese automaker has made significant progress in electrification. In January this year, Honda and LG Energy announced that they would build a $3.5 billion joint new battery plant near Columbus, Ohio, which is planned to be put into operation in 2025 for Honda's future electric vehicle plant in North America.

　　Previously, Honda promised to invest US $700 million in three of the five factories in Ohio, including the factory in Mariesville, which produces Accord and Civic. Honda will set up an independent business department next month to supervise the development of Honda's electric vehicle and battery business, which may eventually include investment in charging stations, similar to Tesla's super charging network.

　　Last fall, Honda and Sony announced the establishment of an important partnership to develop electric vehicles, with the goal of entering the market in 2026. These vehicles will utilize the platform developed internally. However, the upcoming Prologue and Acura ZDX crossover cars will also adopt GM's Ultium architecture.

　　Both will be available next year and will be produced at GM's Spring Hills plant in Tennessee. Mitsubu Minhong added that Honda is currently conducting feasibility studies on key infrastructure hardware such as chargers, batteries, aircraft and even rockets. Low-carbon electronic fuel, also known as synthetic fuel, is also on the list. Like Porsche, Honda sees synthetic fuels as a way to keep high-performance sports cars in use for another 20 years or so.

　　He explained that Honda's ultimate goal is to achieve carbon neutrality by 2050, which is not only to manufacture electric vehicles. We need to take various approaches to bring internal combustion engine vehicles into the market with commercial and regulatory significance, and also pay attention to electric vehicles, hybrid vehicles, electronic fuel and hydrogen fuel cells in the rest of the product portfolio.

　　During a visit to the manufacturing base in Marisville, Ohio, on Friday, Minhong Mibu said that investment in electrification and fuel cell development was a top priority. However, he expects that high-performance vehicles, trucks and other heavy vehicles will continue to use internal combustion engines in the future.

　　However, he stressed that "in the process of moving towards carbon neutrality, we focus on electrification and fuel cells, which are the two core components of future mobility." The attitude expressed by Minhong Mitsubu is likely to be in the global scope of Honda, not just in North America.