Honda CEO willing to form alliance to make electrification profitable

Honda's chief executive Toshihiro Mibe
Honda's chief executive Toshihiro Mibe

Honda Motor Co's chief executive said on Friday the Japanese automaker was willing to form new alliances to make electrification profitable.

“If through an alliance Honda can accomplish early what it should aim to be, then we'd be willing to form an alliance,” Toshihiro Mibe said at a press roundtable  when asked how he envisions global alliances on electrification.

Honda has said the company aims to increase its ratio of electric vehicles (EVs) and fuel cell vehicles (FCVs) to 100% of all sales by 2040.