2023 Honda Business Briefing

April 27th, 2023 by

On April 25th, 2023, Honda Motor Co., Ltd. held a press briefing on their progress achieved towards business transformation and electrification. A summary of this briefing held was provided.

Key point #1: Five Key Factors Honda is focused on

  • Honda will focus on the following factors for advancement of mobility. Carbon neutrality of power units, energy management system that enables the use of power units as an energy source, resource circulation, AD (automated driving)/ADAS (advanced driver-assistance system), and loT (Internet of Things)/Connected.

Key Point #2: Strengthening of Business Structure

  • Improvement of the earnings structure
    (Fixed costs amount reduced by more than 10% compared to 2019)
    (Break-even point decreased from 90$ to 80%)
  • Actions to address semiconductor shortage
    (Strategic collaboration with TSMC)

Key Point #3: Direction of Electrification Business

  • Motorcycle business
    (Honda will launch the EM1e in Japan and later this year in Indonesia)
  • Automobile business
    (Mid-to-large-size EV model to go on sale in 2025)
    (EV model based on the N-ONE will go on sale in 2025)
    (Two small-size EV models will go on sale in 2026)
    (Honda plans to roll out energy business that utilizes the power supply capability of EVS)
    (Public charging in collaboration with providers of convenient and reliable charging networks)

Key Point #4: Initiatives toward Steady Progress in Electrification

  • Battery procurement and development
  • Battery resource procurement and resource circulation
    (Collaboration with Cirba Solutions)
  • Strengthening EV production system and capability
    (Reform of production system)

Key Point #5: Strengthening of Software-related Areas

  • Double the originally planned number of new hires
  • Establishment of a new Global User Experience Officer position

Key Point #6: Strengthening of Alliance with GM

Key Point #7: Initiatives toward New Value Creation

  • Established Honda Innovations Co., Ltd. in Japan this month

Key Point #8: Redefining the Honda Global Brand Slogan

  • Redefined the existing Honda Global Brand Slogan “The Power of Dreams” by adding a new tagline “How we move you”, and added three key words: Create, Transcend, and Augment
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