Honda is making significant strides in the electric vehicle (EV) market to regain market share and meet the growing demand for environmentally friendly vehicles. The company expects to sell over 1.2 million vehicles this year, driven by improved inventory, popular hybrid models, and the launch of its first electric car.

Honda's well-known hybrid models, such as the Accord Hybrid and CR-V Hybrid, have gained attention for their fuel efficiency, providing Honda with a strong foundation to establish itself in the market as it introduces its first fully electric models.

The company aims to make all its vehicles electric by 2040. By starting with hybrids, Honda allows customers a gradual transition to fully electric vehicles, making the switch more accessible and less daunting.

Honda is also partnering with General Motors to develop affordable electric vehicles, enabling it to rapidly and competitively expand its electric model lineup. Additionally, Honda is investing in advanced battery technologies to enhance vehicle range and performance—key factors for success in the EV market.