Honda Motor Co. Ltd. plans to discontinue all diesel cars in Europe by 2021 in a bid to focus on electric vehicle production, Reuters reported Sept. 23.
The Japanese automaker targets to electrify all of its European cars by 2025. At the Frankfurt Motor Show earlier this month, Honda unveiled a number of charging and energy management plans.
Honda expects to roll out its commercial energy services in the U.K. and Germany in 2020. The company has also scheduled the launch of the Honda E electric car next year.
The European Union plans to reduce maximum permissible CO2 emissions to 95 grams per kilometer. All new cars in the EU must be compliant with this emission standard in 2021, the report added.
Honda has confirmed its decision to cease production in the U.K. and Turkey by 2021. The Reuters report also noted that the company will cut its number of car model variations to a third of current offerings by 2025 and reduce global production costs by 10%.
Honda did not immediately respond to S&P Market Intelligence's request for comment.
