- Honda Motor Co Ltd HMC plans to launch a fuel cell vehicle (FCEV) model equipped with the next-generation fuel cell system in 2024, jointly developed with General Motors Company GM.
- The next-generation fuel cell system, which leverages the knowledge, know-how and economies of scale of both companies, will reduce the cost to one-third compared to the cost of the fuel cell system in the 2019 Honda Clarity Fuel Cell.
- Honda has begun fundamental research on future fuel cell technologies with targets to halve the cost and double the durability compared to the fuel cell system co-developed with GM.
- Also Read: Honda Makes Operational Changes To Push Electrification Business
- Honda has identified four core domains for the utilization of its fuel cell system: fuel cell vehicles (FCEV), commercial vehicles, stationary power stations and construction machinery, and will actively engage in collaboration with other companies.
- Since 2013, Honda has been working with GM on the joint development of the next-generation fuel cell system.
- In the mid-2020s, Honda will begin external sales of its fuel cell system at the level of 2,000 units per year, with a plan to expand sales in stages.
- Honda will increase sales to 60,000 units in 2030 and to a few hundred thousand units per year by the second half of the 2030s.
- The move is part of the automaker’s effort to realize carbon neutrality for all products and corporate activities Honda is involved in by 2050.
- Also Read: Honda Partners With GS Yuasa For Lithium-Ion Batteries
- Price Action: HMC shares are trading lower by 1.22% at $25.00 in premarket on the last check Thursday.
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