Honda Motor Co. plans to introduce a new electric vehicle (EV) in North America, priced below $30,000, as early as 2026. The vehicle will be part of the Honda 0 series lineup and produced locally, according to a report from Nikkei Asia.
Last year, Honda announced its intention to launch the 0 series for global markets, starting with North America in 2026, but did not specify pricing details at that time.
The automaker aims for electric vehicles and fuel-cell electric vehicles to constitute 100% of its global sales by 2040.
Currently, the Tesla Model 3, starting at $42,490, is a popular affordable EV option in the U.S. Tesla has indicated that plans for new, more affordable models are on track for production in the first half of 2025. CEO Elon Musk anticipates a 20%-30% growth in vehicle sales for 2025, potentially driven by these new models.