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Honda (HMC) to Kick-Off US Electric Journey With Prologue SUV
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Honda (HMC - Free Report) recently announced that its first volume battery-electric vehicle (BEV) for North America — Prologue — is set to hit the market in early 2024.
The all-new Honda Prologue SUV will be equipped with cutting-edge technology and high functionality. More specific details about the new vehicle will be revealed over the upcoming months by the company. In addition to the Honda Prologue, the company will also unveil an all-electric Acura SUV in the year 2024 in North America.
Based on Honda’s strategic partnership with General Motors (GM - Free Report) , both Honda Prologue SUV and Acura SUV will utilize the latter’s Ultium-branded electric vehicle (EV) architecture and battery system.
Honda also revealed plans of rolling out a new series of EV models in the second half of the decade. Nonetheless, the Japanese automaker plans to change course and self-manufacture this new series based on a new e-architecture. The company will take leverage of its battery manufacturing expertise developed from building gas-electric hybrids for making its own EVs in North America.
Amid the heightening climate-change concerns, investors are intrigued by automakers that provide green transportation solutions. A shift toward electric future has made it all the more essential for industry players to reorient their business models and accelerate the EV game. Within the transforming auto industry, major automakers are taking considerable strides to provide transportation with zero emissions.
Honda is also committed to its goal of providing completely carbon-free transportation in the upcoming years and is boosting the company’s electrification efforts to attain the target. Honda has an excellent track record in bringing EVs to market in the United States, commencing with the EV Plus electric vehicle launched in 1997. Honda initially had planned to meet the government regulations on pollution standards by introducing hybrid versions of its famous nameplates. However, seeing the trending race to EV supremacy, later the automaker moved toward pure EVs.
In fact, this April, the Japanese automaker announced a vision to achieve carbon-neutrality for its products by 2050. Per this strategic plan, Honda wants its sales of battery or fuel-cell powered EVs in North America to account for 40% of the total sales by 2030 and advance to 80% by 2035. Moreover, the company targets to phase out all of its gasoline-powered vehicles in North America by 2040.
The launch of Honda’s first volume BEV will mark the beginning of the company’s transition to an electric future in North America. This will play a crucial role in achieving its vision of providing zero-emission transportation solution in the country.
The name Prologue symbolizes first in a new series of volume Honda BEV models, representing the advent of a new electrified era in North America.
Notably, shares of the company have appreciated 15%, year to date, while its industry has witnessed a rise of 11%.
Image Source: Zacks Investment Research
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Honda (HMC) to Kick-Off US Electric Journey With Prologue SUV
Honda (HMC - Free Report) recently announced that its first volume battery-electric vehicle (BEV) for North America — Prologue — is set to hit the market in early 2024.
The all-new Honda Prologue SUV will be equipped with cutting-edge technology and high functionality. More specific details about the new vehicle will be revealed over the upcoming months by the company. In addition to the Honda Prologue, the company will also unveil an all-electric Acura SUV in the year 2024 in North America.
Based on Honda’s strategic partnership with General Motors (GM - Free Report) , both Honda Prologue SUV and Acura SUV will utilize the latter’s Ultium-branded electric vehicle (EV) architecture and battery system.
Honda also revealed plans of rolling out a new series of EV models in the second half of the decade. Nonetheless, the Japanese automaker plans to change course and self-manufacture this new series based on a new e-architecture. The company will take leverage of its battery manufacturing expertise developed from building gas-electric hybrids for making its own EVs in North America.
Amid the heightening climate-change concerns, investors are intrigued by automakers that provide green transportation solutions. A shift toward electric future has made it all the more essential for industry players to reorient their business models and accelerate the EV game. Within the transforming auto industry, major automakers are taking considerable strides to provide transportation with zero emissions.
Honda is also committed to its goal of providing completely carbon-free transportation in the upcoming years and is boosting the company’s electrification efforts to attain the target. Honda has an excellent track record in bringing EVs to market in the United States, commencing with the EV Plus electric vehicle launched in 1997. Honda initially had planned to meet the government regulations on pollution standards by introducing hybrid versions of its famous nameplates. However, seeing the trending race to EV supremacy, later the automaker moved toward pure EVs.
In fact, this April, the Japanese automaker announced a vision to achieve carbon-neutrality for its products by 2050. Per this strategic plan, Honda wants its sales of battery or fuel-cell powered EVs in North America to account for 40% of the total sales by 2030 and advance to 80% by 2035. Moreover, the company targets to phase out all of its gasoline-powered vehicles in North America by 2040.
The launch of Honda’s first volume BEV will mark the beginning of the company’s transition to an electric future in North America. This will play a crucial role in achieving its vision of providing zero-emission transportation solution in the country.
The name Prologue symbolizes first in a new series of volume Honda BEV models, representing the advent of a new electrified era in North America.
Honda, peers of which include Toyota (TM - Free Report) and Nissan (NSANY - Free Report) , is a leading manufacturer of automobiles and one of the largest producers of motorcycles in the world. It currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
Notably, shares of the company have appreciated 15%, year to date, while its industry has witnessed a rise of 11%.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>