Japanese OEMs announce and update policies for electrification and carbon neutrality

Semiconductor shortage still unpredictable, but Toyota says it will not be significantly affected

2021/06/08

Summary

Honda SUV e:prototype
Honda SUV e:prototype, the first Honda-brand EV in China
(Auto Shanghai 2021 motor show)

  This report outlines the policies for electrification and initiatives toward carbon neutrality announced by each of the Japanese automakers at their FY2020 financial results presentations, as well as their comments on semiconductor supply shortages.

  Regarding electrification, Toyota has announced a plan to sell 8 million electric vehicles globally in 2030, including a total of 2 million BEVs (battery electric vehicles) and FCEVs (fuel cell electric vehicles). Honda confirmed its plan to "increase the ratio of EVs and FCEVs to 100% by 2040" and how to proceed with this plan, including its organization for development. Nissan plans to promote electrification through a two-pronged approach: EV and e-POWER. Each of the companies also announced and confirmed its plans to focus on developing the necessary technologies or expanding the sales of electric vehicles (EVs) by 2025 or 2030.

  Semiconductor supply shortages have become apparent since the second half of FY2020. Each company reports that the situation is still unpredictable. However, due to the procurement system that it established after the Great East Japan Earthquake in 2011, Toyota says that it has not been significantly affected, although it has announced production cuts at some of its plants.

  Each company expects to be affected by the shortage of semiconductors in the first half of FY2021, but also expects to be able to recover to some extent in the second half of the year, and has formulated its plan for FY2021 based on this assumption. The second half of this report includes an overview of FY2020 financial results and FY2021 outlook for nine Japanese automobile manufacturers.


Related reports:
Nissan's Craftsmanship Challenge: Innovating Cars through Electrification and Intelligence (May 2021)
Toyota's EV strategy: “Toyota bZ4X" and "Lexus LF-Z Electrified" announced (Apr. 2021)
Development of Fuel Cell Vehicles (FCVs) and Expansion of Applications (Apr. 2021)
Shortage of Automotive Semiconductors (Mar. 2021)
Honda's EV Strategy: The Honda e in Japan and EU, Self-driving EV development with GM (Nov. 2020)