Honda Motor Co. of Japan launched the second model of its new electric vehicle (EV) portfolio on Saturday, focusing on the rapidly expanding battery-driven automobile industry in the largest auto market in the world.
The Japanese manufacturer announced last year that it intended to release EV vehicles over the following five years under a new brand named “e:N Series” alongside partners GAC and Dongfeng Motor. In April, the first model in China started to be sold.
“Honda is transforming itself into an electric brand in China with a series of unique and diverse electric mobility products that only Honda can offer,” said Honda CEO Toshihiro Mibe in a statement.
Keeping up with competitors like Tesla Inc., which has advanced in the EV industry, is a huge issue for Honda and its major Japanese rivals Toyota Motor Corp. and Nissan Motor Co.
The car manufacturer set a goal earlier this year to launch 30 EV models globally and produce about 2 million EVs annually by 2030.
It announced last year that, starting in 2030, it would only produce battery-electric, hydrogen fuel-cell, or petrol-electric vehicles in China.
Its two joint ventures, GAC-Honda and Dongfeng-Honda, intend to construct brand-new assembly factories that will only produce electric vehicles starting in 2024.
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