Takeo Fukui, Honda's CEO, is getting ready to take on Toyota, and the world, with a line of green vehicles that will surprise the world starting in 2009. Their two-seat Insight was the first ultra-high efficiency hybrid, and now they've converted their Civic to the technology as well. As the price of gas rose, so did Honda's market share. They're not looking to abandon the strategy.
In a monstrous article from Bloomberg, this strategy is laid out, all except for the parts that are kept top-secret by Honda.
Their research budget is the biggest in the car industry, more than $3,000 per vehicle sold, but it's not all going towards their 2009 diesel engine that will be 30% more fuel efficient than today's engines. They're researching robots, genetically engineering sugar cane for ethanol production, bio-plastics for airplane fuselages, and yes, fuel cells, hybrid technology and alternative hydrocarbons.
Honda is certainly on the forefront of the green revolution. So let's all take our hats of to Takeo Fukui who recently said, in an interview, "We'd like to have the brand image as the world's biggest contributor to the environment.'' So take some time to read a couple thousand words at Bloomberg. And if you're gonna invest in a car company, how about the one that invests the most in itself.
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