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Honda's Product Plans: Aggressive introduction of electrified vehicles
Strengthening of global models, re-release of the Civic and CR-V in the Japanese market
2018/09/19
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Summary
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Introduction of electrified vehicles: Expansion of the implementation of the dual motor i-MMD system
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Advancement of the six-region global operation structure: Strengthening of global models and regional models
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Sales Forecast by LMC Automotive: Honda Group’s light vehicle sales in 2021 will be 5.15 million units
Summary
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| The Insight is exclusively available as a hybrid vehicle (U.S. specs) released in the U.S. market in June 2018 (Source: Honda) |
This report covers Honda’s product plans to release electrified vehicles and to strengthen its global models, as well as adjustments to its global production capacity and the construction of a complementary system.
Honda has announced in its plans that it is targeting to have 2/3 of its global sales be comprised of electrified vehicles (15% FCVs and EVs, 50% or more PHVs and HVs) by 2030.
The automaker has released three types of hybrid vehicles: (1) a single motor Sport Hybrid i-DCD, (2) a dual motor Sport Hybrid i-MMD, and (3) a three-motor Sport Hybrid SH-AWD.
Honda will proactively release hybrid vehicles featuring the dual motor i-MMD system on models such as the Insight and CR-V. The OEM also released the Clarity PHEV, a PHV based on the i-MMD, in the U.S. and Japan markets. Furthermore, while the current model Fit features the single-motor i-DCD hybrid system, the next-generation model scheduled for release in 2019 is expected to feature the dual motor i-MMD system, which is superior in both power performance and fuel efficiency.
As for EVs, in 2017 Honda released the Clarity Electric in California and Oregon, and will release an EV based on the Honda Urban EV Concept in 2019 in Europe and in 2020 in Japan.
As of March 2018, Honda had a global production capacity of 5.4 million vehicles. However, the Sayama plant is scheduled to discontinue production in 2021, with production to be consolidated at the Yorii plant. As a result, Honda will be reducing its 2022 global production capacity to 5.27 million vehicles.
Additionally, the automaker has evolved its policy of "local production for local consumption,” which it has promoted since 2012 in its six global areas, and will implement a flexible production structure and complementary production system between regions to adjust the balance of supply and demand in its global production and sales operations.
In preparation for vehicle electrification and the introduction of autonomous driving, Honda has announced a series of collaborations with IT companies in Japan, the U.S., and China. Detailed contents of these partnerships, as well as an overview on its China business, which Honda is currently most focused on, will be covered in a separate report.
Related report:
Tokyo Motor Show 2017: Exhibits from Nissan, Honda, and Mitsubishi (December 2017)
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