Honda's chief executive Takanobu Ito has conceded the car industry still needs a breakthrough in battery technology in order to make electric cars viable. As a result, he said the company was looking to develop electric car batteries in China to tap the country's technology and vast resources. The Chinese government is currently providing car makers with extensive grants to develop electric vehicles, as it bids to break its reliance on oil, which it has to import.
"If there is a suitable chance, we hope to work with China to (develop) batteries," said Ito. "There needs to be a major breakthrough in battery technology."
Ito also predicted that it will take 10 to 20 years before battery-run electric cars became mainstream, saying he would prefer to focus Honda's investment on hybrids and other fuel-efficient vehicles in the meantime.