BEIJING, Oct 13 (Reuters) – Japan’s Honda Motor (7267.T) will launch a new electrical automobile brand in China next year, it stated on Wednesday, and can solely launch battery electrical, hydrogen fuel-cell or petrol-electric hybrid automobiles there from 2030.
Known for its fuel-efficient internal-combustion engines, Honda bought over 1.6 million automobiles in China final year.
The new brand shall be known as “e:N Series” and it plans to roll out 10 fashions with companions GAC (601238.SS) and Dongfeng Motor (0489.HK) over the next 5 years, Honda stated.
Its two joint ventures, GAC-Honda and Dongfeng-Honda, plan to construct new EV-only meeting vegetation which are anticipated to start manufacturing in 2024.
The deliberate new fashions will use a new automobile working system and are being developed primarily based on an auto product platform designed for electrical automobiles.
Honda will arrange an e:N Series part in all its present retail shops.
Over time, Honda additionally plans to arrange devoted e:N Series retail shops however didn’t present element on that plan.
Honda has roughly 1,200 Honda brand shops at the moment.
China’s gross sales for electrical, plug-in hybrid and hydrogen fuel-cell automobiles are anticipated to attain three million this year, the China Association of Automobile Manufacturers stated on Tuesday.
Honda will proceed to promote present gasoline-powered fashions even after 2030, it stated.