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November 22, 2021

Honda considering EV battery plant in Thailand

Honda has a tricky decision to make regarding Asia production of EV batteries.

By Graeme Roberts

Honda Motor is considering building an electric vehicle (EV) battery plant in Thailand to support the region’s fledging market for electrified powertrains, according to local reports.

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The company was understood to be carrying out a feasibility study for the plant which would support future local production of EVs and hybrids.

But, with demand in south east Asia for hybrid passenger vehicles limited and for battery powered models virtually non existent, producing batteries locally instead of importing them from Japan [or China] would potentially increase overall production costs of these vehicles.

Noriyuki Takakura, CEO of the Japanese automaker’s local manufacturing subsidiary Honda Automobile (Thailand), said the company was committed to developing new technology kinder to the environment as part of its commitment to becoming carbon-neutral worldwide by 2050. This included switching the entire passenger vehicle range to ‘zero emissions’ in major markets by 2040.

Takakura added: “We are aware the global car market is moving towards EVs so we will continue to invest in technology in order to catch the trend.”

Takakura said the company’s regional focus would be on hybrid vehicles in the short term, adding: “Honda would increase the number of HEVs to become a market leader.”

The company just launched the redesigned HR-V e:HEV priced from THB979,000 (US$29,568).

Honda expected to sell 85,000 vehicles in Thailand in 2021 with the entire market reaching 750,000.

Free Report
img

What does the future hold for the US electric vehicles market?

The US Electric Vehicles (EV) market has established itself as one to watch. Despite China maintaining the number one spot, the US holds significant standing as one of the major EV markets, with GlobalData’s whitepaper identifying a strong growth trajectory within the forecast period. This report further analyzes the trends, market drivers, and government incentives set to influence and facilitate the market.   This report also looks beyond the US and touches on environmental concerns set to drive the EV market worldwide.   Want to find out more? This report demonstrates GlobalData Explorer’s sector analysis capabilities, showing how you can:  
  • Get historical and forecast market sizing data, with country specific insight for 22+ of the world’s largest industries
  • Track sector dealmaking activity, to view aggregate volumes, specific deals and top investors for all major deal types in M&A, Capital Raising, and Partnerships
  • Analyze news from GlobalData Explorer’s News Database – enable screening and alerts by industry, company, geography and news sentiment for filtered insight
  • Identify and track the key disruptive trends that are keeping the top digital thought leaders talking through social media analytics
  Consult this report now to find out how you and your company can benefit from our Explorer platform.
by GlobalData
Enter your details here to receive your free Report.

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