Honda, one of the biggest brands in the motorcycle space, has announced that it will release at least 10 new electric models globally over the next three yearsas part of a larger strategy to achieve carbon neutrality by 2040.
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The manufacturer did not release any details on specific models, but said it aims to reach 1 million annual sales over the next five years and 3.5 million (about 15 percent of total sales) by 2030. Honda is considered the largest motorcycle company in the world, having sold over 300 million motorcycles since its inception. That said, moving to an electric powertrain will be no small task.
A shift to electrification could mean heavier and more expensive vehicles in the short term, which could hurt sales if demand starts to wane. High prices in particular can be a hurdle for customers in developing markets, where motorcycle sales are strongest. Honda is also experimenting with different fuel types, announcing that it will launch flex-fuel (gasoline-ethanol blend) models in India and Brazil.
Also in India, Honda said it will launch a battery-sharing service for electric tricycle taxis by the end of this year. Honda’s goal is to popularize battery-sharing services in other Asian countries, where the technology is more widely used than in the United States and Europe.
Honda isn’t just electrifying its motorcycle lineup. The company recently unveiled the Prologue, its first long-range all-electric SUV that will go on sale in 2024. The company said it plans to release a wave of 30 hybrid, battery-electric and fuel-cell vehicles by 2030.