Honda is done standing by while rivals like Tesla and BYD steal market share. To stay competitive, Honda is doubling its investment in EVs to $65 billion (10 trillion yen) through 2030. The plans include slashing costs and launching seven new electric models.
Honda doubles its investment in EVs to $65 billion
CEO Toshihiro Mibe laid out the automaker’s new strategy Thursday, claiming Honda has not “changed its belief that EVs are the most effective solution.”
Honda believes it can compete in the small electric vehicle and motorbike segment. In the long term, Honda is confident that EV adoption will continue to rise. The company wants to take advantage of the “period of EV popularization,” which will happen in the second half of the 2020s.
To do so, Honda will introduce new EVs, establish a comprehensive supply chain (including batteries), and advance EV technology and facilities.
Through its new strategy, Honda aims for a 5% return on sales for its EV business in 2030, aiming to make it self-sustaining.
Honda’s new 0 series is expected to play a key role. Two new concepts, the Saloon and Space-Hub, were unveiled at CES in January.
Honda Saloon and Space-Hub concepts (Source: Honda)
The Saloon is set to become Honda’s new flagship EV with a model very similar to the concept launching in 2026. It will launch in North America first ahead of its global rollout.
Following the Saloon, Honda plans to launch seven EV models globally, from small to large. In China, Honda will introduce ten new EVs by 2027, representing 100% of auto sales in the region by 2035. It also unveiled its new “Ye Series” EVs to take on Chinese automakers like BYD.
Honda will launch a series of smaller EVs, starting with the N-Van e, a commercial mini EV. After it goes on sale in Japan this fall, Honda will introduce a series of small-size EVs in the region where needed. This will include personal mini-EV models in 2025.
Toshihiro Mibe, Global CEO of Honda, unveils the Honda 0 Series and new concept models Saloon and Space-Hub (Source: Honda)
Building an EV supply chain for the future
Regarding its supply chain, Honda will start by strengthening its partnerships for lithium-ion batteries while holding costs down. Starting in mid-2020, Honda will begin producing batteries with its JV partners.
In the US, Honda’s JV plant with LG Energy Solution will begin production with up to 40 GWh battery capacity annually. The lightweight and compact battery packs will be used for its 0 series EVs.
In the second half of the decade, Honda plans to further expand its battery business by building a vertically-integrated supply chain.
To do so, Honda will begin in-house production with GS Yuasa for EV batteries. Honda also plans to secure battery materials in Canada, like cathode materials from POSCO Future M and separators from Kasei at new JV plants.
(Source: Honda)
By 2030, Honda aims to reduce the cost of EV batteries built in North America by over 20% compared to current costs. Honda already has enough secured to produce around 2 million EVs planned in 2030.
Honda aims for EVs and FCEVs to account for 40% of global auto sales in 2030 and 100% by 2040.
Electrek’s Take
Despite the recent “EV slowdown” the media continues to report, several automakers are increasing their investments now as they look toward the future.
Honda is the latest, joining Toyota, which has made a series of investments in new EVs, including a large electric SUV for the US and next-gen battery tech.
Although Japanese automakers have been laggards in the industry’s transition to EVs so far, with Ford, GM, VW, and others pulling back, could they turn things around? That’s what Honda (and Toyota) hope for with new investments in EVs.
Meanwhile, Honda and Toyota’s EV sales share is currently well under that of their rivals. While Toyota’s EV sales share is around 1%, many automakers are already achieving double-digit or 100% EV sales.
Will the new investments be enough? Drop us a comment below to let us know your thoughts.
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That viral Tik Tok video showing a “self driving” Ford Mustang Mach-E scraping its way down the highway with a helpless passenger behind the steering wheel praying for his life? California Highway Patrol says the car wasn’t driving itself during the viral highway crash and arrested the driver on suspicion of driving under the influence.
If you have’t seen the video, posted by TikToker Marty Byrde, it shows a self-driving Ford Mustang Mach-E driving down the road, grinding itself against the highway’s concrete Jersey barriers, with the driver behind the wheel, seemingly helpless and afraid and trapped inside an out-of-control vehicle, apparently praying for his life.
There, in a single video, was everyone’s worst fear in an age of electric steering, brake-by-wire, and self-driving cars: a car that loses its mind, killing you and everyone you love and probably a busload of orphans for good measure. (!)
But, thankfully, that doesn’t seem to be what actually happened. At least, not according to the California Highway Patrol (CHP) in Redwood City.
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In case it vanishes, the CHP press release does a good job of explaining the situation as it stands, while emphasizing that any short-form video content is going to lack potentially needed context before the public begins to panic about a Maximum Overdrive sort of scenario.
The preliminary investigation indicates the driver of a green Ford Mustang Mach E, crashed into a red Mitsubishi Mirage then collided with the right shoulder wall near the Holly Street overcrossing. Through our investigation, we determined the vehicle was not operating in autonomous mode and CHP officers arrested the driver on suspicion of driving under the influence, resulting in injuries to another.
While we understand public interest in such incidents, video clips may not capture the complete context or investigative process. The CHP conducts each investigation thoroughly, professionally, and in accordance with the law. We thank the community for its concern and remind motorist to report dangerous driving by calling 9-1-1.
The video was especially surprising given Ford’s BlueCruise excellent track record. The system is good enough, in fact, to have been named the top active driver assistance system (ADAS) by Consumer Reports, surpassing rivals such as GM’s Super Cruise and Tesla’s Autopilot in a comparison test of similar OEM ADAS systems.
The original Tik Toker who recorded the now viral video (I hate that phrase, too, but millions of people have seen it by now) reported that no one seemed hurt in the ensuing accident. Coupled with CHP’s confirmation that the Mach-E wasn’t driving itself during the accident, I’d say that walking out of a hands-free, highway speed crash is as good an endorsement as any … but in case you need another one, this one went 250,000 miles and still had 92% of its battery life left.
Ford is currently offering 0% interest financing for up to 72 months for well-qualified buyers, as well as $1,000 in retail bonus cash in some markets.
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The Trump Administration’s “Big Beautiful Bill” (BBB) is doing a lot of damage to America’s health, economy, and global standing – but one thing it certainly has not done is make it “too late” for US homeowners to benefit from a rooftop solar system.
Companies like Tesla and Rivian are reeling from the double-whammy of Trump’s BBB ending the $7,500 Federal EV tax credit early and killing the market for carbon tax credits, which provides EV car brands with hundreds of millions of dollars, almost overnight. Still another part of the bill that’s getting a lot of publicity is the death of the 30% tax credit for home solar systems at the end of 2025, which has led many Americans who have been “on the fence” about adding a solar or solar + storage solution to their home to believe they waited too long to go solar.
The good news? It’s not too late. Homeowners who get solar installed and operational by December 31st can still claim a full 30% federal tax credit for 2025, and any unused portion of that credit rolls over to the next tax year.
The better news? Even without the solar tax credit, adding a home solar system with battery backup storage can still deliver a positive ROI.
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Solar benefits go beyond tax credits
Home solar installation, via Sunrun.
The most obvious benefit of home solar plus battery storage is that you can produce your own energy (or, if you’ve been following along for a while, electric fuel) for less than it would cost you to buy that energy from your local utility. That’s been true for a while, but it’s about to become even more true.
Energy Innovation’s analysis skews left, and tends to focus on “left of zero” outcomes. Still, when the corporatist rags start quoting bad numbers and bear markets, you should probably pay attention. Some of the key takeaways of the EI study include:
Power generation capacity will fall 340 gigawatts by 2035, raising costs to meet growing demand and damaging industrial competitiveness
Wholesale electricity prices will increase 25 percent by 2030 and 74 percent by 2035; electricity rates paid by consumers will increase between 9-18 percent by 2035
Household energy costs will increase $170 annually by 2035
America loses $980 billion in cumulative GDP through the budget reconciliation window
Florida, Texas, Kentucky, and both North and South Carolina stand to be hit the hardest by rising energy costs over the next ten years
“There are more efficient ways to passively cool buildings, such as reflective roof membranes,” explains Jan Kleissl, a professor of environmental engineering at UC San Diego. “But, if you are considering installing solar photovoltaic, depending on your roof thermal properties, you can expect a large reduction in the amount of energy you use to cool your residence or business.”
What’s more, because the rising costs of energy prices are outpacing interest rates, it might even make sense to finance a solar package – but definitely don’t take my word for that. Talk to a certified financial planner or someone with a fiduciary interest in your money to work the numbers before you start signing stuff.
If you’re considering going solar, it’s a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get any annoying calls. No will will call until you select an installer and you share your phone number with them.
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The Corvette CX making its debut at this weekend’s The Quail, a Motorsports Gathering, generates more than 2,000 combined hp from its four, individually controlled and torque-vectoring electric motors. It’s staggering power, draped in beautiful bodywork, at a point in time when Corvette is rapidly climbing through the supercar ranks. There’s only one problem with this latest rendition of America’s motorsports icon: China’s has 1,000 more hp.
The specs for the Yangwang U9 Track Edition that leaked last week in BYD filings with the Ministry of Industry and Information Technology (MIIT) read like something out a middle schooler’s journal. 3,000 hp. 0-60 in one second. An electric motor for each wheel. A top speed approaching 300 mph. If it’s real (and there is absolutely zero reason to believe that it isn’t), the BYD will be the performance car benchmark against which all others are measured, like the Ferrari F40 of the 1980s, McLaren F1 of the 1990s, or Bugattis of the twenty-first century.
And that 3,000 hp BYD? That’s a production car, if limited. Meanwhile, the latest no production intent, pie-in-the-sky, no-holds-barred, you can just say shit and no one will ever question it electric hypercar concept from GM falls more than 1,000 hp short, at “just” 2,000 hp.
But don’t count the Corvette out.
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More grease, bigger hammer
Callaway Sledgehammer, via Mecum Auctions.
Whatever you may think of poster-era supercars like the Lamborghini Diablo, Porsche Carerra GT, or Pagani Huayra – or even modern electric hypercars like the Tesla Model S Plaid and Xiaomi SU7 – the one thing they all have in common is that they are all objectively slower than the 255 mph Callaway Corvette Sledgehammer from 1988, above.
I won’t go into the specs of that car (this isn’t that kind of car blog), but the point is that while the Corvette is often overlooked, there is a reason GM’s top-shelf sporty car carries that “King of the Hill” nickname – and the new Corvette CX concept is similarly, undoubtedly, more than just a list of specs in a magazine.
And those specs are seriously impressive. The new Corvette CX concept packs four independent electric motors putting out a combined 2,000 hp and some ungoldy amount of Earth-moving torque under advanced software controls that enable four-wheel torque vectoring for maximum grip and cornering performance, as well as precise steering control under even the heaviest of braking.
Power to those motors comes from the Corvette CX’ 90 kWh lithium-ion battery that’s centrally mounted low in the chassis, giving the car a low center of gravity and, crucially, ideal 50/50 front-rear weight distribution.
Plus: it’s gorgeous
The Corvette team says the CX concept draws from more more than seventy (!) years of Corvette heritage while being a forward looking concept, not a retro piece. Stylistically, the concept seems more visually mature and subdued than its in-production C8 cousin, and seems to promise a return to the C3-5 eras’ cleaner, less busy aesthetics.
Phil Zak, executive design director for Chevrolet, is very rightly proud of the CX’ design. “While the shape of a Corvette has always been expressive and forward-looking, each crease and line has its roots in the generations that came before it. It is aspirational, it is cultural, it is the reason people want to come and work at Chevrolet,” says, Zak. “The CX … demonstrate(s) our design teams stepping away from the constraints of production vehicles and unleashing their creativity. Through this exercise, we’ve added to Corvette and defined the design direction for Corvette moving forward.”
Aggressively futuristic, yet unquestionably a Corvette, the CX concept shows what an uncompromised future sports car can be. The athletic exterior design, highlighted by the fighter-jet-inspired cockpit canopy, isn’t just about looking powerful – it was shaped in collaboration with the GM Motorsports Aero Group. Every angle was designed with ultimate performance in mind.
On the inside, every aspect of the CX concept was designed to provide an unmatched driving experience. The forward-opening fighter-jet-style canopy automatically raises as you approach. Driver and passenger settle into seating finished in Inferno Red ballistic textile, bolstered to help hold occupants in place during high-g cornering maneuvers. Premium silicone leather, milled aluminum, and low-gloss forged carbon fiber accents give an elevated feel to the driver-focused cabin.
The digital windscreen transforms the windshield into an immersive surround display with real-time performance data. Every major control is elegantly integrated into the steering wheel, keeping the driver’s focus on the road ahead.
The innovations continue underneath the skin with the Vacuum Fan System. Built-in fans draw air through the open-channel bodywork, generating massive downforce and adjusting the airflow over the rear diffuser to refine aerodynamic balance in real-time. The front diffuser and rear wing are both active, adjusting automatically in response to the driver’s inputs to generate maximum grip. The integrated understructure of the CX concept is visible through the aero channels in the bodywork, and the suspension A-arms are wing-shaped to enhance airflow and reduce front-end lift.
All in all, the new Corvette CX concept is an impressive piece of engineering and rolling art. It’s also a statement from GM that, while the Corvette may very well be going all-electric in its next iteration, it won’t be going any slower. In fact, the first electric Corvette might even be the best one ever – but don’t say that one too loud (you’ll upset the New Balance crowd).
That said, as a pure concept that almost no one will ever drive and which might never get publicly strapped on to a dyno, it is absolutely baffling that Chevy wouldn’t have just claimed 3,000 hp. Even if it was just to match BYD’s claims and continue to build on a century of hype for American exceptionalism, you know?
That’s my take, anyway – what’s yours? Watch the Corvette CX Concept hype video from Chevrolet, below, then let us know what you think of the latest GM concept in the comments.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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