Automotive giant, Honda, has announced its timeline to reach a fully electric fleet of vehicles. Reuters recently reported the Honda CEO, Toshihiro Mibe, saying that the company aims to increase its ratio of EVs and fuel cell vehicles to 100% of ALL sales by 2040. They also project that EV and FCV sales to account for 40% of sales by the year 2030 and 80% of sales by 2035 in their major markets (including North America and China).
During a press conference, when asked why the company chose to release this news, Mibe said, "I believe it is the responsibility of an automaker to achieve our carbon-free goal on a 'tank-to-wheel' basis."
Such research and development initiatives will account for a total of 46.3 billion dollars. The plan is to commit to such research and development over the next 6 years regardless of sales revenue fluctuations.