Honda has partnered with Hanwa, a Japanese trading company for its supply of important metals it’ll use for its future electric cars. This long-term partnership will secure Honda’s supply of rare earth metals used in batteries such as nickel, cobalt, and lithium. Securing the supply will prevent shortages in the supply chain that could hamper the automaker’s EV production. Honda is projecting 100 percent of these cars to run on an electric powertrain before 2040. To achieve that, the Japanese automaker will launch over 30 new all-electric models to global markets before 2030. It expects to produce over 2 million EVs annually before the countries put stricter emission laws into motion.
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Honda will be working with multiple suppliers to stabilize its supply of resources. It will execute its strategy to decrease its carbon footprint and become a carbon-neutral company before 2030.
Honda’s Prologue EV is under development and is expected to arrive in 2024. Honda’s new crossover will be made on GM’s lithium battery-electric architecture used to be the Hummer EV, Silverado EV, etc. The 2024 Honda Prologue is to come with both single and dual electric motors with different power outputs. It will offer a 100 kWh battery capacity to provide a good 300 miles of range.