Electric cars are still more expensive than gasoline cars, but Honda CEO Toshihiro Mibe says they’ll fall below $30,000 in the long run.
To achieve this, significant studies and advances will be necessary, especially in the battery. An electric vehicle’s battery accounts for the majority of its charge and is a formidable impediment to mass adoption. This is why today it is almost impossible for consumers to find an electric vehicle for less than $35,000.
But back in 2022, Honda and GM dreamed up a plan to co-develop a line of sub-$30,000 EVs. Just a year later, in October 2023, the two companies jointly agreed to scrap the plans due to battery costs. “The affordable EV is quite challenging because of the cost of the battery,” Mibe says, as translated from Japanese to English by an on-site translator.
He explained that making a vehicle of less than $30,000 with existing charges and battery generation will require reducing the number of cells in the vehicle, thus reducing range. “You have to ask yourself how much this vehicle would cost,” he says. “If we have a car that costs less than $30,000, we want one or two innovative technologies. Without that, it would be a little difficult. “
Solid state batteries hold the key to affordable, high-range EVs. Honda is currently researching methods to commercialize the packs, which promise to double the range and slash charging time in half, among other benefits.
“If we can scale up what we’re looking for, the load will be transmitted downwards and the throughput will increase,” says Mibe. “And it’s not flammable. The cooling formula can also be simplified much further. If we can make a smart change in the task of expansion, the benefits will be enormous. “He expects them to arrive in the 2030s and said the company will give more details in the future.
While some say solid-state batteries are still “just around the corner” and too difficult to market, Mibe is rarely the only one excited about them. Toyota plans to bring them to market until 2028. Volkswagen recently shared the promising effects of a startup it owns, which has developed a solid-state phone with particularly less degradation than the existing lithium-ion.
At the same time, other battery chemistries, in addition to the forged state, are also being developed in study labs around the world. The race to solve the trio of EV disruptions (price, range, and charging) is on, and it’s conceivable that in the end several types of batteries will be needed for a viable battery-powered future.
Regarding charging, Mibe also clarified some of the claims Honda made at CES related to the new 0 Series EV lineup unveiled at the show. The company promises a charging time of 10 to 15 minutes for those vehicles, but not for the first ones to do so. It will hit dealerships in 2026.
When asked when consumers can expect those loading speeds, Mibe replied, “It’s hard to pin down which style year. “The Series 0 will evolve from 2026 to 2031, with the 2024 Prologue first, so it will spend some time in that range. .
Honda also hasn’t tested a battery and shown it can reach those charging speeds, Mibe says the company owns the generation “to some extent. “The production cars will use packages developed in Ohio through Honda’s joint venture with LG Energy in batteries. , making them eligible for the $7,500 federal tax credit.
Beyond the battery, Mibe referred to the availability of high-power chargers: “There are very few charging stations that can expect 350 kW. Therefore, charging stations also have to evolve and evolve with their evolution, the receiving side, the vehicle. At the same time, it has to evolve,” he says. And depending on the vehicle model, the functionality may be different. “
So, while affordable, high-end, fast-charging electric cars seem to be on the horizon, consumers still have to wait. According to automakers, it may still be about 10 years before their studies and breakthroughs begin. Groups can finalize new battery formulas, as well as a production procedure to mass-produce them.
Prior to starting at PCMag, I worked in Big Tech on the West Coast for six years. From that time, I got an up-close view of how software engineering teams work, how good products are launched, and the way business strategies shift over time. After I’d had my fill, I changed course and enrolled in a master’s program for journalism at Northwestern University in Chicago. I’m now a reporter with a focus on electric vehicles and artificial intelligence.
Before starting at PCMag, I worked for six years at Big Tech on the West Coast. From that point on, I was able to get a lot of practice on how software engineering groups work, how smart products are launched, and how business methods evolve over time. I had had my fill, replaced the course, and enrolled in a master’s program in journalism at Northwestern University in Chicago. I am now a journalist specializing in electric cars and synthetic intelligence.
I like to scan the market looking for products from other brands. Right now, I have a Microsoft Surface laptop, an Amazon Echo for gaming in my apartment, an iPad that’s gathering dust, and an iPhone 13, which I recently bought after an iPhone 8 Plus for many years. My next acquisition could be a sports watch. Now all my friends seem to have them and are discussing the state of their bodies’ batteries. I’m lost!