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Report: Honda to launch hybrid vehicles in US, China, Japan

Honda Motor Co. Ltd. is set to roll out multiple hybrid vehicles in the U.S., China and Japan this year in a push for electrified vehicles to make up 65% of its global sales by 2030, Nikkei Asian Review reported Feb. 27.

In the U.S., Honda will reportedly roll out a hybrid model of its Accord sedan in the first half of 2018 as well as launch a new version of its Insight hybrid during the summer.

For China, the car manufacturer will release an eco-friendly version of its Acura CDX, according to the report. The vehicle is responsible for about 90% of the Chinese sales of Honda's luxury subsidiary Acura. Honda intends to introduce plug-in hybrids in the country around 2020.

Meanwhile, in Japan, the automobile developer will launch a hybrid version of its CR-V model during the summer. It will also rerelease the Insight hybrid at the end of 2018 after being unavailable in the country for four years. The report added that hybrid vehicles account for about 50% of Honda's automobile sales in Japan, minus its minivehicles.

Part of the company's cost-cutting strategies is reportedly sourcing car components locally. Japanese auto parts maker Keihin Corp., in charge of supplying Honda with the equipment for its hybrids, is expected to begin U.S. and Chinese production by 2020. In addition, the joint venture of Honda and Hitachi Automotive Systems Ltd. will start motor production in the U.S. and China by 2021.

The news site said the car manufacturer will also roll out mass-production electric vehicles in Europe and Japan in 2019-2020.