Honda is speeding up efforts to introduce electric motorcycles, with plans to roll out at least 10 models worldwide by 2025 as part of the company’s goal of achieving carbon neutrality in the coming decades.
The carmaker, which also has the biggest global market share in two-wheelers, set a target to make all of its bikes carbon neutral before the middle of the century, according to a statement on Tuesday.
The expansion of its electric motorcycle operation could lead to a separate stock-market listing for the business, according to a report in the Wall Street Journal. Honda is in early stage considerations over whether to separate the unit and list some shares, the newspaper said, citing a company executive.
A representative for Honda in the United States had no immediate comment when contacted by Bloomberg.
The plan to introduce new models is the latest from Japan's top automakers as they outline efforts to expand sales of electric vehicles, a market where they’ve typically lagged behind other global manufacturers, particularly those in China and in Europe. Last month, Honda unveiled plans with South Korea’s LG Energy Solution to spend $4.4 billion on a new battery plant in the U.S. as it seeks to phase out fossil-fuel vehicles completely by 2040.
"We are speedily working to realize carbon neutrality” Kohei Takeuchi, executive vice president of Honda, said at a briefing on Tuesday.
Honda is aiming to boost annual sales of electric motorcycles to 1 million units within the next five years, and 3.5 million units in 2030, equivalent to 15% of total sales. Electric motorcycles currently account for less than 0.5% of Honda’s total sales, according to Takeuchi.