Honda to challenge rivals with budget EV under $30,000 by 2026

Japan’s Honda Motor plans to launch a small electric vehicle priced under $30,000 in North America by 2026, according to a report by the Nikkei newspaper on Tuesday.

The model will be part of the automaker’s global "Honda 0 Series" EV lineup and will be produced locally.

A Honda spokesperson confirmed that the company is considering an entry-level EV priced below $30,000 as part of the new series but has not yet decided whether it will be released in North America.

Honda, Japan’s second-largest automaker, has been slower than its U.S., European, and Chinese competitors, including Tesla, Volkswagen, and BYD, in expanding battery-powered vehicle sales. The company is targeting 2040 for all new car sales to consist of battery-powered and fuel-cell vehicles.