Latest news with #ToshihiroMibe
Yahoo
24-05-2025
- Automotive
- Yahoo
Honda Plans To Lean Into Hybrids, Walk Back From EVs
Read the full story on The Auto Wire There's no doubt the EV market has cooled, which has caused Honda to walk back from its aggressive electrification plans. Instead, the Japanese automaker says it will lean into hybrids, something rival Toyota has been doing with great Honda was aiming to have 30 percent of global vehicle sales be electric cars by 2030. That goal coincided with EV mandates, either explicit or implicit, pushed by federal and state governments in the US. However, Honda CEO Toshihiro Mibe said his company's slashing of its EV development investments from 10 trillion yen through 2031 to 7 trillion yen doesn't change the automaker's long term electrification strategy, per The Detroit News. Now that consumers aren't going to be forced into buying electric vehicles, automakers are having to pivot. We tried warning the industry before that forcing people to buy EVs was a bad idea, but the bandwagon and groupthink mentalities were strong just two years ago. While The Detroit News seems to blame Trump for the cooling EV market, the reality is quite different. Automakers would be wise to realize that consumers are tired of being told what they should buy and especially of being forced into new technologies, like electrification. Trump has just tapped into this market sentiment. Even as used EV values were plummeting back in December 2023, many in the auto industry as well as the media behaved like the electrification party would never end. Exactly how Honda will handle this short term transition wasn't spelled out by Mibe, only that it will start churning out a lot more hybrids. Of course, the automaker has a long history of developing and producing hybrid powertrains stretching back into the 90s, so we think it can manage. But it's also behind Toyota, which has been rolling out hybrid versions of just about every model line in production today. Will we see other automakers like GM and Ford turn back to hybrids more? Image via Honda Join our Newsletter, subscribe to our YouTube page, and follow us on Facebook.
NZ Autocar
24-05-2025
- Automotive
- NZ Autocar
Honda achieves a milestone that few will emulate
Japanese motorcycle manufacturer is about to produce bike number 500,000,000. Honda Super Cub Few car makers have managed single models that really sell well, like Corolla and Golf, both around the 50million mark. But Honda eclipsed that with its Super Cub (above), managing over 100 million in its lifetime. And now Honda reports that it is about to build bike number 500 million in India, an Activa scooter. It has taken 76 years, the first Honda motorcycle produced in 1949. And that would be the Honda Dream D type (below). 1949 Dream D Type Since its founding in 1948, Honda has developed and provided products that meet the needs of customers in many countries and regions based on its belief that 'the purpose of technology is to make people's lives easier.' Honda motorcycle and scooter production facilities exist in 23 countries. The firm achieved its 100 million-unit milestone in 1997, its 200 million-unit milestone in 2008, and its 300 million-unit milestone in 2014. In 2018, Honda's annual production exceeded 20 million units for the first time in its history, and cumulative global production reached 40 million units in 2019. Honda's CB750 saw the rise of Japanese bike manufacturers worldwide. After COVID-19, demand has steadily recovered worldwide to pre-pandemic levels. In 2024 Honda had its 'first year of global expansion' for electric powered two-wheelers. Honda's annual production capacity now is more than 20 million units in 23 countries and 37 production entities. There are more than 30,000 Honda dealers worldwide. The next goal for Honda is achieving carbon neutrality, including through electrification. Toshihiro Mibe, Director, President and Representative Executive Officer, Honda Motor Co recently commented on the achievement. 'For Honda, motorcycle business…will continue to be the company's core business. 'We have built the trust of our customers through our many products and services, which has enabled us to achieve a cumulative production volume of 500 million units. 'I would like to thank our customers and all stakeholders who were involved in achieving this milestone, from development to production, sales, and service. 'Honda will continue to take on the challenge of expanding the joy of our customers around the world.' 1948 Honda Motor Co., Ltd. founded 1949 First full-fledged motorcycle model, the Dream D-type, launched 1958 First Super Cub model, the Super Cub C100, launched 1959 Honda becomes world's largest motorcycle manufacturer 1968 Cumulative global production reaches 10 million units 1969 The CB750 goes on sale 1975 The GL1000 Gold Wing goes on sale 1984 Cumulative global production reaches 50 million units 1986 The XRV650 Africa Twin joins the range 1992 The CBR900RR FireBlade goes on sale 1997 Cumulative global production reaches 100 million units 2004 Annual production exceeds 10 million units for the first time 2008 Cumulative global production reaches 200 million units 2014 Cumulative global production reaches 300 million units 2014 The Honda Super Cub becomes the most produced motorcycle in history (87 million units) 2018 Cumulative annual production exceeds 20 million units for the first time 2019 Cumulative global production reaches 400 million units 2022 Honda's electrification journey begins in Europe 2023 Honda introduces its Honda E-Clutch technology 2024 Honda introduces new V3 concept engine with unique electrical compressor 2025 Cumulative global production reaches 500 million units 2025 2025
India Today
22-05-2025
- Automotive
- India Today
Honda achieves 500 million-unit milestone in global motorcycle production
Honda has achieved a milestone of reaching 500 million units in cumulative global motorcycle production, 76 years after launching its first mass-produced motorcycle, the Dream D-Type, in 1949. This landmark underscores Honda's enduring legacy as one of the leaders in the motorcycle to the company, since its founding in 1948, Honda has adhered to its core philosophy that "the purpose of technology is to make people's lives easier." Starting with its first overseas production facility in Belgium in 1963, Honda embraced a strategy of "producing locally where there is demand." advertisementThis approach fueled rapid expansion, with the company hitting 100 million units in 1997, 200 million in 2008, 300 million in 2014, and 400 million in 2019. In 2018, Honda's annual production surpassed 20 million units for the first time, and despite a temporary dip due to COVID-19 in 2020, global demand has since rebounded to pre-pandemic levels. Today, Honda operates 37 production entities across 23 countries with the capability to produce over 20 million units annually, delivering a diverse lineup of motorcycles—from daily commuters to high-displacement leisure models and electric two-wheelers through a network of over 30,000 dealers worldwide. In 2024, Honda announced its "first year of global expansion" for electric motorcycles, introducing new models to meet evolving customer needs.'For Honda, the motorcycle business is our founder's business and remains our core,' said Toshihiro Mibe, President and Representative Executive Officer of Honda Motor Co. "In the motorcycle business, we have built the trust of our customers through our many products and services, which has enabled us to achieve a cumulative production volume of 500 million units. I would like to thank our customers and all stakeholders who were involved in achieving this milestone, from development to production, sales, and service. Honda will continue to take on the challenge of expanding the joy of our customers around the world."advertisementA commemorative ceremony is scheduled for May 22, 2025, at Honda Motorcycle and Scooter India's fourth plant in Vitthalapur, Ahmedabad, Gujarat. The event will feature remarks from Minoru Kato, Executive Officer and Chief Officer for Motorcycle and Power Products Operations; Masanori Shimazoe, General Manager of the Kumamoto Factory; Toshio Kuwahara, President and CEO of Asian Honda Motor Co and Tsutsumu Otani, President and CEO of to Auto Today MagazineTune In
Daily Mail
22-05-2025
- Automotive
- Daily Mail
Honda slashes plans to invest in electric vehicles
Honda has slashed its plans to invest in electric vehicles (EVs) by 30 per cent, or £15billion, after lowering its expectations for EV sales in the coming years . The Japanese automotive giant says it now expects around 20 per cent of its car sales to be electric by 2030, rather than 30 percent, amid dwindling demand. The company has also cut its budget for new EV projects by almost a third to seven trillion yen (£36.2billion) - and will invest more immediately in expanding its range of hybrid vehicles instead. It comes amid industry predictions that demand for electric cars will wane as governments, including Britain, ease the pressure on car makers to go fully electric. US President Donald Trump has revoked an executive order made by his predecessor Joe Biden to require all new cars in the States to be electric by 2030. The UK, meanwhile, has given car makers permission to continue selling hybrid vehicles - which still have internal combustion engines - until 2035, but will still ban the sale of purely fossil fuelled vehicles by 2030. Honda's cuts come just days after Nissan scrapped plans to build an £822million battery production plant in Kitakyushi, Japan and said it would cut 20,000 jobs . It had originally hoped to make 30 per cent of its car sales electric by the end of this decade, scaled back from a target of 40 percent that was set in 2021. But Honda CEO Toshihiro Mibe told a press conference: 'It's really hard to read the market, but at the moment we see EVs accounting for about a fifth by then.' He added: 'EV investment hasn't been abandoned, just pushed back.' Mr Mibe suggested that the changes in regulation made by the US and UK Governments, among others, were stopping people from buying electric cars - and hit out at the recent tariff wars for creating 'increasingly uncertain' trading conditions. He said of the demand for hybrids, however: 'Current market demand for our HEV (hybrid electric vehicle) models is high.' Honda has been slower than other manufacturers to embrace hybrid technology, having originally invested heavily in hydrogen fuel cell technology which has not been widely adopted as an alternative fuel. Its range of UK vehicles is, however, now available as hybrid, including the Jazz supermind, Civic hatchback and CR-V and HR-V crossovers. It offers one pure electric model, the e:Ny1, in Britain. The company is now pushing hybrids as part of a transition towards EVs - seeing them as a stepping stone on the way to pure electric for drivers. It now expects to sell around 2.3million hybrids by 2030, out of a total of 3.6m cars. By comparison, Honda's forecasts suggest sales of no more than 750,000 EVs. Data from the Society of Motor Manufacturers and Traders (SMMT) suggests demand for electric vehicles is stagnating in Britain. Car makers have been slashing the prices of their electric models in a bid to drive sales - and are pleading for government intervention to encourage EV uptake. Under the Zero Emissions Vehicle (ZEV) mandate, car makers are expected to make 28 per cent of their sales electric by the end of this year, a target they are unlikely to hit. As of April, 20.7 per cent of new car sales to date in 2024 are electric, while almost half are still petrol. On average, just over a fifth of cars sold in the last 12 months were electric, according to SMMT data. Car firms have called for greater government support for electric cars to encourage people to ditch petrol and diesel. The Government has not offered grants towards new electric cars for three years. Mike Hawes, chief executive of the trade body, said earlier this month: 'EV uptake is still being heavily and unsustainably subsidised by the industry - which is why a compelling package of measures from government is essential if consumers are going to make the switch.'
Yomiuri Shimbun
21-05-2025
- Automotive
- Yomiuri Shimbun
Global EV Slowdown Prompts Honda to Put Brakes on Investment Strategy; Maintain Its Investment in Software Development
The Yomiuri Shimbun Honda Motor Co. President Toshihiro Mibe speaks at a press conference in Minato Ward, Tokyo, on Tuesday. Honda Motor Co.'s recent decision to put the brakes on its investment in electric vehicles and assess market trends was made in response to the global slowdown in the EV market. The automaker plans to position its already successful hybrid vehicles as the primary growth engine for the next few years. However, the company's overall business environment has become more challenging due to U.S. tariff measures and Chinese rivals expanding their presence in Southeast Asia. Honda President Toshihiro Mibe discussed the current EV market at a press conference on Tuesday, saying, 'Uncertainty is increasing.' In May last year, Honda announced plans to invest a total of ¥10 trillion in EV and software development by fiscal 2030. However, the company now plans to reduce such investment to ¥7 trillion. This decision was partly influenced by U.S. President Donald Trump's stated reluctance to promote EVs. The Yomiuri Shimbun The accelerating slowdown of the EV market is also a burden on Honda, which had previously aimed to sell more than 2 million EVs in 2030. The company presented a revised plan on Tuesday indicating sales of 700,000 to 750,000 units instead, about one-third the original target. Mibe stated that his belief in EVs as the industry's optimal long-term decarbonization solution remains unchanged, emphasizing that this reduction is merely a temporary postponement of investment. With other major automakers, such as Toyota Motor Corp., reevaluating their EV businesses, Honda was effectively compelled to shift its EV strategy as well. Driving forward Despite the overall reduction in EV investment, Honda will maintain its level of investment in software development. Honda has fallen behind U.S. and Chinese EV automakers, such as Tesla Inc. and BYD Co., in developing next-generation software-defined vehicles (SDVs), whose functions can be enhanced through software updates. As part of its efforts to regain ground, Honda plans to invest ¥2 trillion in SDVs by fiscal 2030. Through this initiative, the automaker intends for SDV functionality to be installed on 13 of its hybrid models for release as early as 2027, with the overall goal of achieving widespread adoption of the system in its vehicles. However, the development of SDVs requires huge investment, which would be difficult for Honda to shoulder alone. Although Honda is exploring collaboration in the SDV field with Nissan Motor Co., the breakdown in the merger talks between the two companies limits the potential synergistic effects. Honda continues to face challenges in China, where local manufacturers are launching low-cost electric vehicles. Sales in China dropped 30% year-on-year in 2024. Additionally, projected U.S. tariffs are expected to reduce its operating profit, a key measure of core earnings, by up to ¥650 billion in the current fiscal year. Amid these challenges, Honda is seeking a breakthrough in India, the world's most-populous country. Although Chinese automakers are intensifying their 'southward expansion' into Southeast Asia, they have made limited inroads into India. Honda plans to leverage the strong brand recognition and sales network it has cultivated through its motorcycle business to increase its presence in the Indian market. 'We will grow in India, where we have yet to focus our efforts [in the four-wheel vehicle market],' Mibe said.
