Japan's Honda to Launch a New Electric Vehicle Brand in China Next Year
Japan's Honda Motor plans to launch a new electric vehicle brand in China next year, the company said Wednesday. As part of its plans, Honda will only launch battery electric, hydrogen fuel-cell or gasoline-electric hybrid vehicles in China starting in 2030.
Honda already has a big presence in China, which is the world's biggest auto market. The automaker sold over 1.6 million vehicles in the country last year.
The new brand will be called "e:N Series". Honda will set up an e:N Series space in all its existing retail locations. According to Reuters, Honda may establish dedicated e:N Series retail stores but the company did not provide any detail on that plan. Honda has roughly 1,200 Honda brand stores.
Honda said it plans to introduce ten new models with its joint venture partners GAC and Dongfeng Motor over the next five years. Honda's joint venture companies, GAC-Honda and Dongfeng-Honda, plan to build new dedicated EV plants that are expected to begin production in 2024.
The new models will use a new vehicle operating system (OS) and built on a new platform designed for electric vehicles.
China's sales for electric, plug-in hybrid and hydrogen fuel-cell vehicles are expected to reach three million this year, the China Association of Automobile Manufacturers said on Tuesday.
Although Honda is establishing a dedicated EV brand, the automaker will continue to sell existing gasoline-powered models even after 2030, the company said.
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