Honda CEO pledges to fight back from behind in EV race
Summary
Hondas radical revamp hinges on new models, better batteries, powerful software and a totally transformed driver interface, along with dedicated EV factories and a completely overhauled production system being developed by one of the worlds most innovative manufacturers. As COO Shinji Aoyama put it, “We were overwhelmed by the Chinese.” Mibe said Chinese EVs had made big strides during the COVID-19 pandemic when the world was largely cut off from the country by travel restrictions and quarantine measures. “We recognized we are slightly lagging behind, and we are determined to turn the tables.” The doubled-down ambition is part of Honda’s bigger plan to ditch internal combustion by 2040 and sell nothing but full-electric and hydrogen fuel cell vehicles by then. In the meantime, Honda will milk its existing gasoline and hybrid vehicles for all the profits it can and channel the funds back into developing EVs and other technologies of tomorrow. The new hire is Yokichi Koga, CEO of Drivemode, a Silicon Valley-based software startup that Honda bought in 2019 as part of its plunge into digital mobility.