To crack the code of building low-cost electric vehicles, Japan's automakers intend to leverage their skills at tried-and-true lean manufacturing and kaizen.
By 2029, just 14 percent of Toyota’s worldwide production is forecast to be full-electric, rising to 18 percent for Honda and 22 percent for Nissan, according to research released from climate think tank InfluenceMap.
Japan's automakers are stoking R&D investment to meet mounting demand for a staggering array of technologies. Toyota by far outpaces the pack.
The latest announcement builds on a string of initiatives CEO Toshihiro Mibe is taking to make the lineup at Japan’s No. 2 automaker completely gasoline-free by 2040.
Honda and Sony will form a new company to create and commercialize for "high value-added" battery electrics in various markets, including the U.S.
Automakers such as Honda have been forced to slash production due a shortage of microchips and now face an increase in costs amid China's COVID-19 curbs and the war in Ukraine.
Toshihiro Mibe is starting a radical revolution that includes rockets, partners and an end to combustion engines.