Honda, Volvo and Jaguar target 100% electric sales by 2040
- Honda is targeting 100% of its sales to be BEV (battery electric vehicles) by 2040 in its main markets (USA, China, Japan), rising to 40% in 2030 and 80% in 2035.
- For Japan, the carmaker believes that this plan will be too ambitious, which is why it plans a 20% share in 2030 and 70% in 2035. Today, Japan is resilient to this type of car, as in 2020, there are only 31,000 sales of this type of model on a global market of nearly 4 million passenger cars (less than 1% of the market).
- Honda is not the only producer to count on 100% sales of electric cars by 2040, as Volvo and Jaguar have also announced this target, the first expected for 2030, the second for 2025. Volvo expects battery electric vehicles to represent 50% of its global sales in 2025 and plug-in hybrid models (PHEVs) to represent the remaining 50%. Then, from 2030, all cars sold by Volvo will be 100% BEVs. We have also seen that the Stellantis group, for its part, is forecasting on 70% of its sales in electric motors by 2030.
- All these objectives are announced knowing that the demand for electric vehicles remains low today in most regions of the world (from 1% to 10% depending on the region). In China, for example, it does not reach 10% of total registrations.
- In Europe, it does not exceed 7% for BEVs and 9% for PHEVs, and less than 2% in countries located in Eastern Europe. In the United States, it is less than 3.5% and in Japan less than 1%. So there is still a long way to go.
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