Honda CEO admits Chinese brands are now ahead; vows a fightback. Honda HondaCars CarGuidePH
Honda CEO Toshihiro Mibe admits that executives who flew to Auto Shanghai had a rather unpleasant surprise: the Chinese brands are ahead of them.
Of course, Mibe and his team isn’t going to take this lying down. This has rekindled the fire in the belly for Honda, and recognizing that they’re slightly behind now, they’re determined to turn the tables. Mibe says 2025 will be a turning point for Honda’s global electrification strategy—a strategy wherein the brand will ditch the internal combustion engine altogether by 2040 in favor of full-electric and hydrogen fuel cell vehicles.
Honda will also funnel back all profits generated by their gasoline- and hybrid-powered vehicles into developing EVs and other so-called “technologies of tomorrow.”
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