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| Honda ditches fuel cars by 2040 |
According to the CEO of the Japanese automaker, Honda is the latest automaker committed to a zero-emissions future.
"Before 2040, we will endeavor to sell only battery-powered electric vehicles in the three major markets of North America, China and Japan," Toshihiro Miep said at his CEO's first press conference.
Honda is not a major player in the European auto market, although stricter environmental regulations in Europe may force Honda to sell zero-emissions cars there.
Honda also announced globally that 40% of its zero-emissions cars will be sold by 2030 and 80% by 2035.
Honda's decision came after General Motors announced in January that it would sell zero-emissions cars by 2035.
Ford has announced plans to sell electric passenger cars in Europe by 2030.
Volvo announced in March that it would consume electricity worldwide by 2030.
Almost all automakers are ramping up their electric vehicle manufacturing plans to meet stricter and more expensive environmental regulations.
President Biden announced a new goal this week: to reduce US greenhouse gas emissions from 50% to 52% by 2030 compared to 2005.
In many countries, governments have announced rules requiring the use of hybrid components or zero-emission vehicles at various times in the future.
As automakers develop more options at lower prices, the demand for electric cars increases.
Traditional automakers also have economic incentives for this shift, as electric cars have fewer moving parts than fuel-powered cars, so the manufacturing cost is lower because they are less labor-intensive.
Honda must act quickly to catch up with other traditional car manufacturers who have more electric vehicle options.
The company plans to launch the first electric vehicle based on the new e: Architecture platform and using General Motors' Ultium battery system in the second half of this century.