Honda to create division to speed up electrification development

TOKYO, Jan 24 (Reuters) – Honda Motor Co (7267.T) said on Tuesday it would create a new division in a bid to strengthen and speed up its electrification business as part of an overhaul of its organisational structure.

In changes effective April 1, the new division would consolidate the Japanese automaker’s electrification strategy and development of automobiles, motorcycles and power products such as generators, it said in a statement.

Honda last year laid out a target to roll out 30 electric vehicle (EV) models globally and produce about 2 million EVs a year by 2030.