In Japan, where hybrid cars dominate, what Akio Toyoda says matters. Toyota Motor Corp. has been a pioneer of the technology since the first Prius rolled off the production line in 1997 and the president of the world’s largest automaker has repeatedly criticized the government for pushing electric vehicles.
That isn’t stopping Honda Motor Co. from steering into EVs at all costs. It’s the first of Japan’s automakers to state publicly it will phase out sales of gasoline-powered cars completely, setting 2040 as the goal and giving newly minted Chief Executive Officer Toshihiro Mibe a once-in-a-career chance to put his stamp on a firm that can trace its lineage back 84 years.
"It’s a very bold target,” said Yachiyo Tanaka, an analyst at automotive research company Fourin. "Honda has pledged to pull ahead of other automakers by introducing the latest technologies.”