According to media reports, Honda Motor has become the first Japanese automaker to publicly announce that it will completely phase out sales of gasoline-powered vehicles and has set 2040 as its target. Honda announced at its annual shareholder meeting that it will stop selling new fuel vehicles by 2040.

In addition to Honda, several companies have recently announced their plans to ban the sale of fuel cars. For example, Volkswagen just announced its plan to sell at least 70 percent of its vehicles in Europe as pure electric vehicles by 2030 and start banning fuel cars in Europe around 2035.