Benzinga | Sep 20, 2021 03:33PM EDT

Honda Sees 70,000 Prologue US EV Sales In 2024: Reuters

* Honda Motor Co Ltd's (NYSE:HMC) U.S. unit is targeting initial annual sales of 70,000 for its planned Prologue electric sport utility vehicle launch in 2024, Reuters reports.

* Honda is co-developing the Prologue and electric Acura-brand SUV with General Motors Co (NYSE:GM).

* Honda aims to add additional EV models reaching 500,000 EV sales in the U.S. by 2030 and 100% zero-emission vehicles sales in North America by 2040.

* Honda will introduce a series of EVs through 2030 based on its developed e-Architecture and assemble EVs at Honda plants in North America.

* Honda will initially focus Prologue sales in California and other states like Texas and Florida. It looks to add hybrid-electric systems to more U.S. models.

* Honda's plans align with President Joe Biden's target to convert 50% of the new passenger vehicles sold in 2030 to zero-emissions vehicles.

* Price Action: HMC shares traded lower by 2.40% at $30.24 on the last check Monday.