One of the first automakers to launch a production hybrid — the Insight arrive in late 2000 — Honda still has a lot of catching up to do in the all-electric market. Having focused on hydrogen tech and hybrids in recent years, the Japanese firm has only two EVs on offer: the brand-new Clarity Electric and the really old Fit EV, based on the second-gen hatchback that was discontinued in 2014. But Honda wants to change that really soon. It has already signed a global partnership with CATL, China’s biggest battery maker, and more recently one with Nikkei, which will spawn a new all-electric Fit.

The goal is to drop a brand-new battery in the Fit, a mini car that currently available with gasoline and diesel engines only

According to Nikkei, the goal is to drop a brand-new battery in the Fit, a mini car that currently available with gasoline and diesel engines only. There’s no word on whether they will use the current Fit, which is almost five years old as of 2018, but production is set to start in 2020. This could mean that Nikkei and Honda will be waiting for the next-generation model. What we do know is that the companies aim for a 300-km range, which converts to 186 miles. The mileage is likely based on the Chinese standard, so it could be lower in European and American models.

Nikkei also said that the car will cost "slightly more than 2 million yen or $18,000," which is a really affordable sticker compared to what’s available right now. The old Fit EV is a lease only vehicle in the U.S., but the Nissan Leaf, for instance, retails from $29,990, or as low as $22,490 after federal tax credits. Interestingly enough, Honda wants to build 100,000 per year, significantly more than other EVs aside from the Tesla Model 3.

Needless to say, if this project comes to fruition, we will finally get an affordable EV on the market. Automakers have been promising to lower costs for quite a few years now, but all-electric cars rarely go below the $30,000 mark. Government rebates often take them to around $25,000 or below, but not all countries have similar programs. An $18,000 electric vehicle would be a first and could finally start that EV revolution we’ve been waiting for.

References

Read our full review on the 2015 Honda Fit.

Read our full review on the 2019 Honda Insight.

Read more Honda news.

Source: Nikkei via Electrek