UK Markets closed
  • FTSE 100

    7,204.55
    +14.25 (+0.20%)
     
  • FTSE 250

    22,931.66
    +14.56 (+0.06%)
     
  • AIM

    1,234.19
    -7.18 (-0.58%)
     
  • GBP/EUR

    1.1800
    -0.0061 (-0.51%)
     
  • GBP/USD

    1.3760
    -0.0035 (-0.2546%)
     
  • BTC-GBP

    44,016.37
    -440.17 (-0.99%)
     
  • CMC Crypto 200

    1,453.34
    -49.70 (-3.31%)
     
  • S&P 500

    4,544.90
    -4.88 (-0.11%)
     
  • DOW

    35,677.02
    +73.92 (+0.21%)
     
  • GOLD FUTURES

    1,793.10
    -3.20 (-0.18%)
     
  • NIKKEI 225

    28,804.85
    +96.25 (+0.34%)
     
  • HANG SENG

    26,126.93
    +109.43 (+0.42%)
     
  • DAX

    15,542.98
    +70.38 (+0.45%)
     
  • CAC 40

    6,733.69
    +47.52 (+0.71%)
     

Honda to launch new EV brand in China next year

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
FILE PHOTO: The Honda logo is displayed at the 89th Geneva International Motor Show
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

BEIJING (Reuters) - Japan's Honda Motor will launch a new electric vehicle brand in China next year, it said on Wednesday, and will only launch battery electric, hydrogen fuel-cell or petrol-electric hybrid vehicles there from 2030.

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

The new brand will be called "e:N Series" and it plans to roll out 10 models with partners GAC and Dongfeng Motor over the next five years, Honda said.

Its two joint ventures, GAC-Honda and Dongfeng-Honda, plan to build new EV-only assembly plants that are expected to begin production in 2024.

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

Honda will set up an e:N Series section in all its existing retail stores.

Over time, Honda also plans to set up dedicated e:N Series retail stores but did not provide detail on that plan.

Honda has roughly 1,200 Honda brand stores currently.

China's sales for electric, plug-in hybrid and hydrogen fuel-cell vehicles are expected to reach three million this year, the China Association of Automobile Manufacturers said on Tuesday.

Honda will continue to sell existing gasoline-powered models even after 2030, it said.

(Reporting by Norihiko Shirouzu and Yilei Sun; editing by Jason Neely)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting