Honda makes EV move

Honda is launching into the electric vehicle space with two cars set for release in 2018.

One of the EVs will be for the Chinese market, while the other is likely to be released in Europe, Business Insider Australia reports.

Honda says it will debut its urban EV concept at the Frankfurt Motor Show in mid-September.

The company plans to have two-thirds of its vehicles to be electrified by 2030 and will provide more information in Frankfurt.

Last year, it created a team to solely work on the introduction of EVs.