Honda will not leave the product gap left by its cancelled EVs empty for long, with the announcement that a new multi-energy platform will take its place.

As part of its financial reporting, Honda revealed that it will introduce a new platform, with a focus on the North American market, that will be EV-capable but with the flexibility to offer all-electric and hybrid electric versions.

In March this year, the Japanese company announced that it was cancelling plans for three dedicated EVs and subsequently, Sony’s EV plans, based on the same underpinnings, were also later announced as cancelled.

At the time, Honda cited changing market conditions and concerns about profitability. The move comes as a result of continued changes in the North American market, led by shifting regulations and emissions targets in the United States.

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“The market could change depending on the Trump administration over the next two and a half years and the outcome of the November midterm elections,” Honda president Toshihiro Mibe said.

“We are studying systems and next-generation EV concepts that would work no matter which way things evolve.”

The new platform appears to be a stand-alone architecture, distinct from Honda’s existing plans for an all-new hybrid system and platform, which is set to spawn 15 new models for the brand between now and 2030.

Honda’s new hybrid platform aims to reduce production costs by 30 per cent and improve fuel efficiency by 10 per cent.

Details of the new multi-energy platform that will underpin future electric vehicles have not yet been published. Honda calls its new architecture a ‘highly competitive EV hardware platform’, which hints that it could result in products that prioritise electrification, including EVs and extended-range plug-in hybrids.

Honda announced that its new platform program was designed to “address country-specific differences”, pointing to the changing landscape between the brand’s key markets and the role varying emissions and electrification mandates play in shaping future products.

Honda’s previously stated target of becoming carbon neutral by 2050 will see hybrids take a leading role in the near-to-mid term. Honda is set to introduce hybrid versions to all model lines in the brand’s portfolio.

Product plans for North America include the introduction of a hybrid system on engines up to 3.5-litres, opening the door to more efficient versions of Honda’s large Pilot and Passport SUVs and Ridgeline pick-up.