By Michael Elkins
Honda Motor Company (NYSE:HMC) announced Tuesday that the company plans to release ten new electric motorcycles by the end of 2025 as part of the automaker's goal to become carbon neutral by 2040.
Honda, the world’s largest motorcycle manufacturer with over 400 million cumulative sales, said that it is targeting annual sales of 1 million units over the next five years and 3.5 million units, about 15 percent of total sales, by 2030. The releases will include small commuter models such as scooters, and large “fun models” like dirt and street bikes.
Honda acknowledged integration of electric bikes faces many challenges including heavier vehicles and higher prices in the near term. Demand for electric motorcycles also depends on government incentives and regulations and the availability of charging infrastructure.
All new Honda e-motorcycles will use its solid-state batteries, which are currently under development and slated to hit production in 2024.
Most models will be commuter scooters for the Asian and European markets, while four “Fun EV” models are expected to debut in the U.S., Europe and Japan.