Honda says 100% of vehicle sales to be electric by 2040

London (Quantum Commodity Intelligence) - Japanese vehicle producer Honda announced Friday that it plans for 100% of its new vehicle sales to be powered by battery and fuel cell electric powerplants by 2040.

The company will also push for carbon neutrality in all its products and corporate activities by 2050, said the statement.

Japan has a target to sell only electric vehicles, including hybrid electric and fuel cell vehicles by 2035 as part of its route to 2050 climate change goals.

Japan set out last year a goal to reach full carbon neutrality by 2050, ramping up ambitions from a previous target of an 80% cut.

"Taking an aggressive approach to global warming will bring about a transformation in our industrial structure and economic system that will lead to big growth," said prime minister Yoshihide Suga at the time.