Japan's Honda Motor plans to launch a small electric vehicle priced below $30,000 in North America by as early as 2026, the Nikkei newspaper said on Tuesday, as it plays catch-up in the battery-powered car market.

Japanese automaker Honda Motor Co. HMC will reportedly launch a new EV in North America priced below $30,000 as early as 2026. What Happened: The vehicle will be produced locally and rolled out as part of the company’s Honda 0 series lineup, according to a report by Nikkei Asia.

The automaker will produce the low-cost model locally, the Nikkei newspaper reported, adding it will roll it out as part of its upcoming ‘Honda 0 Series’ global EV lineup

NEW YORK -- Honda will introduce a new electric vehicle in North America priced below $30,000 by as early as 2026, as the Japanese automaker aims to attract customers after purchase incentives are removed under the current U.S. administration of President Donald Trump.

Honda (NYSE:HMC), the Japanese automaker plans to launch a new electric vehicle in North America that will be priced below $30,000, Nikkei reported on Tuesday.