Honda to launch new EV brand in China next year

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BEIJING, Oct 13 (Businesshala) – Japan’s Honda Motor (7267.T) will launch a new electric vehicle brand in China next year, it said on Wednesday, and only launch battery electric, hydrogen fuel-cell or petrol-electric hybrid vehicles. Will do from there by 2030

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Known for its fuel-efficient internal-combustion engines, Honda sold more than 1.6 million vehicles in China last year.

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Honda said the new brand would be called the “E:N Series” and plans to introduce 10 models over the next five years, along with GAC (601238.SS) and Dongfeng Motor (0489.HK).

Its two joint ventures, GAC-Honda and Dongfeng-Honda, are planning to build new EV-only assembly plants, which are expected to start production in 2024.

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The new models planned will use a new vehicle operating system and are being developed based on an auto product platform designed for electric vehicles.

Honda will be setting up e:N series sections in all its existing retail stores.

Over time, Honda also plans to set up dedicated e:N series retail stores, but did not give details on that plan.

Honda currently has around 1,200 Honda brand stores.

The China Association of Automobile Manufacturers said on Tuesday that sales of electric, plug-in hybrid and hydrogen fuel-cell vehicles in China are expected to reach 3 million this year.

Honda will continue to sell existing gasoline-powered models beyond 2030.

Reporting by Norihiko Shirouzu and Yili Sun; Editing by Jason Neely

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