Honda to Build New Plant in Japan for Next-Gen Fuel Cell System Production
Key Ideas
- Honda announced the construction of a new plant in Japan to produce the next-generation fuel cell system independently developed by the company.
- The plant, located in Moka City, Tochigi Prefecture, will have an annual production capacity of 30,000 units and will focus on high-efficiency production.
- Honda is positioning itself to target a 5% share of the fuel cell-powered truck market by 2030 and aims for a 30% market share by 2040.
- The government subsidy from Japan's Ministry of Economy, Trade and Industry supports Honda's efforts in establishing supply chains for carbon neutrality initiatives.
Honda Motor Co., Ltd. has revealed plans to construct a new plant in Japan dedicated to producing the next-generation fuel cell system developed in-house. The facility, set to operate by FY2028 in Moka City, Tochigi Prefecture, repurposes part of the Powertrain Unit Factory. This move aligns with Honda's strategy to expand its hydrogen business by targeting various sectors like fuel cell vehicles, commercial vehicles, power stations, and construction machinery. As Honda aims to secure a foothold in the fuel cell market, the company is eyeing a 5% market share for FC-powered trucks by 2030 and a significant 30% share by 2040. The government subsidy extended to Honda as part of Japan's carbon neutrality initiatives further bolsters the company's endeavors in fostering a green transformation.