To start things off, Honda will launch two mid- to large-size SUVs developed jointly with GM. One is the Prologue, while the other is a yet unnamed Acura model. By 2024, the carmaker will introduce a commercial use mini-EV at the one-million-yen price range (P 416,790) as well as a personal-use mini-EV and EV SUVs.

Assuming that electric vehicle adoption accelerates by 2026, Honda will begin adopting its Honda e: Architecture. This platform pivots from a car manufacturer’s traditional non-recurring hardware sales business into a recurring business which will see them offer various services and value (likely via OTA updates) to customers.

Part of Honda’s plan include the global introduction of two sports EV models—one “specialty” and one “flagship” model. The latter being likely the successor to the NSX.

In order to achieve those goals, Honda is earmarking 5 trillion yen for electrification and software technologies (8 trillion when looked at from the entire Honda group perspective). This means that 62.5 percent of Honda’s total R&D budget is committed to developing electric vehicles.

Plans are in place for Honda to produce its own all-solid-state batteries by 2024. This technology, which will drastically drop the price of EVs as well as their charging times will head to market by the second half of the 2020s. Before that time, however, the carmaker will leverage its external partnerships with GM (USA), CATL (China), and Envision AESC (Japan).

Furthermore, Honda will continue to cut the number of variants and options available in their models. In fact, as of now, they’ve managed to cut variants to less than half of the number in 2018.