TOKYO (Reuters) -Japan’s Honda Motor plans to launch a small electric vehicle priced below $30,000 in North America by as early as 2026, the Nikkei newspaper said on Tuesday, as it plays catch-up in the battery-powered car market.
The automaker will produce the low-cost model locally, the Nikkei said, adding it will roll it out as part of its upcoming “Honda 0 Series” global EV lineup.
A Honda spokesperson said that while the automaker aims to release an EV priced below $30,000 as an entry-level model as part of the series, the company has not made any decision yet on whether to release that model in North America.
Japan’s second-biggest automaker has been slow to step up sales of battery-powered vehicles, lagging behind U.S., European and Chinese rivals, including Tesla, Volkswagen and BYD.
The company is striving to have battery-powered and fuel-cell vehicles make up all of its new car sales by 2040.
(Reporting by Daniel Leussink; Editing by Kirsten Donovan)
