Nissan, Ford, and Honda plan International EV Surge
Anyone interested in electric vehicles knows that China is probably the biggest player in the game right now. BYD, in particular, is the biggest EV production company in China, having exported at least 19% of its electric vehicles overseas just this past February. And, by the look of things, they don't plan on slowing down.
Therefore, things are really hotting up on the international EV scene – and some of the biggest names in traditional motoring are setting up plans of action – with Ford, Honda, and Nissan planning to take down the Chinese lead in the EV market.
In particular, it’s Honda and Nissan who are planning a joint offensive to make EV more mainstream. Both companies have found that, in order to take down their Chinese rivals, two heads are better than one.
It’s why they have recently signed a memorandum of understanding, meaning they’ve agreed to partner together and co-develop innovative EV. It’s great news for green motorists, but, as you might expect, it’s a move with plenty of challenges ahead.
Part of the issue for both companies has been creating fully electric, modern vehicles in the same price range as BYD’s competitive cars. Nissan, having only been able to produce the Leaf and, more recently, the Ariya in electric vehicles, doesn’t yet hold a strong enough place on the global market.
This is especially the case given the price of the Ariya, which, in the West, is still too expensive for many households to commit to.
That said, Honda and other Japanese manufacturers, such as Toyota, aren’t afraid to move toward hybrid options. However, many believe they should have prioritized EVs as BYD and other Chinese manufacturers some time ago, especially given where the automobile market is heading.
What's more, aside from coming together to potentially create a quality EV fleet like BYDs, Nissan has also claimed that they plan to reduce the cost of EVs by at least a third! Beyond that, they plan to launch an impressive 16 new EV models globally by the end of 2026. It's a short goal, but certainly one moving in the right direction.
Japanese companies aren't the only ones focused on taking the Chinese off their EV pedestal. Ford has also revealed that they have formed a new team of engineers and designers, led by Tesla's Alan Clarke, to produce their brand-new EVs and take over the market.
The team has reportedly been working together since at least 2022, but, again, won’t be ready to launch a whole new EV until 2026. Beyond mid-decade, it seems, will be an exciting time for EV enthusiasts!
That said, there are some concerns that Ford is acting too late to really take a bite out of the EV apple – with the company facing enough of a challenge at home, with the likes of Tesla reportedly working on cheaper vehicles.
There is some hope on the horizon for companies looking to monopolise on EV in the US – right now, BYD isn’t planning to launch its cheaper passenger cars in America at this time. That said, there are already rumblings regarding BYD eyeing up a plant launch in Mexico – meaning they could still be muscling in on North America soon.