Summary of 2023 Honda Business Briefing

Honda’s corporate transformation initiatives including electrification.

Honda Cars Philippines, Inc. (HCPI) is pleased to share Honda Motor Co., Ltd.’s press briefing on the progress it has achieved toward its business transformation and electrification last April 26, 2023.

The Honda executives presenting at the event included the following:

· Toshihiro Mibe, Director, President and Representative Executive Officer

· Shinji Aoyama, Director, Executive Vice President and Representative Executive Officer

A summary of the briefing follows:

Five Key Factors Honda is focused on:

Honda strives to realize the joy and freedom of mobility for people around the world with zero environmental impact and zero traffic collision fatalities involving Honda motorcycles and automobiles. In so doing, Honda wants to be a company that serves as a driving force for many people to realize their dreams and move our society forward.

To achieve this challenging goal, Honda has been strengthening its business structure and will focus on the following areas, which Honda identifies as the five key factors for the advancement of mobility. 

1) Carbon neutrality of power units

2) Energy management system that enables the use of power units as an energy source

3) Resource circulation

4) AD (Automated Driving) / ADAS (Advanced Driver-Assistance System)

5) IoT (Internet of Things) / Connected

Direction of Electrification Business

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Honda has set a goal to increase the ratio of EV and FCEV sales to 100% globally by 2040. To this end, Honda is planning to produce more than 2 million EVs annually by 2030

Plans for the introduction of EV models are as follows.

North America:

• In 2024, the Honda Prologue and Acura ZDX, currently being codeveloped with General Motors (GM), will go on sale.
• In 2025, a mid- to large-size EV model which adopts the new E&E architecture based on Honda’s original dedicated EV platform will go on sale. 

China:

• In early 2024, e:NS2 and e:NP2 will go on sale.
• Before the end of 2024, mass production models based on the e:N SUV xù concept model will go on sale. The e:N SUV xù concept model was unveiled at Auto Shanghai this month.
• By 2027, Honda will introduce a total of 10 new EV models, including three models mentioned above.
• By 2035, Honda will strive to make EVs 100% of its automobile sales in China, ahead of other regions. 

Japan:

· In the first half of 2024, a N-VAN-based commercial-use mini-EV model will go on sales.

· In 2025, an EV model based on the N-ONE will go on sale.

· In 2026, two small-size EV models, including a SUV type, will go on sale.

Keeping pace with the enhancement of its EV lineup, Honda will begin offering vehicle charging services. For home recharging, based on the Honda SmartCharge™, an EV charging service currently available in North America, Honda is planning to roll out energy business that utilizes the power supply capability of EVs. For public charging, Honda will work toward the establishment of an EV charging services environment for its customers in collaboration with providers of convenient and reliable charging networks.

Redefining the Honda Global Brand Slogan

For Honda to continue to be viewed as a company society wants to exist in the midst of the period of the “once in a hundred years transformation” of the industry, Honda management determined that the company needs to re-clarify the “raison d’etre” of Honda, what the company really wants to achieve, as well as the “value proposition” of Honda, which exists beyond its business strategies, such as electrification and digitalization. Based on this realization, Honda redefined the existing Honda Global Brand Slogan – The Power of Dreams – by adding a new tagline and three key words. 

How we move you
The creation of mobility through the dreams of each and every Honda associate will “move” people physically and also “move” people’s hearts.

Create, Transcend, Augment
Driven by dreams and the intrinsic motivation of each and every person working at Honda, the company will create “the mobility Honda dreams of” to embody the essential value of all mobility products and services – to enable people to transcend the constraints of time and place, and to augment their every possibility. Through the creation of the mobility Honda dreams of, Honda will become “The Power of Dreams” of more and more people. That is how we will move people and society forward

Head on to www.hondaphil.com or visit the nearest Honda Cars dealership to know more about all the latest news and offers from Honda.