Honda said it is targeting initial annual sales of 70,000 for its upcoming Prologue electric SUV. First announced in June, the vehicle is expected to hit showrooms in 2024.

The SUV is one of two Honda is expecting sell in the U.S. based on GM’s Ultium electric vehicle platform. From there, Honda plans to have sold a total of 500,000 electrified vehicles by 2030. It then plans for zero local emissions vehicles to make up 100 percent of its sales by 2040.

“Launching our first volume BEV in 2024 is the start of an exciting new direction for Honda,” said Dave Gardner, executive vice president of National Operations at American Honda Motor Co., Inc. “We are working with our dealers to plan the transition from sales of primarily gasoline-powered vehicles to selling 100-percent electric vehicles by 2040.”

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Details about the Honda Prologue remain scant, but so far the automaker has said that “the Prologue will provide our customers with a battery-electric SUV with the excellent functionality and packaging they’ve come to expect from Honda.”

The company said that its engineers will be in charge of designing the interior and exterior of the vehicle, while GM’s team will handle the platform and drivetrain. Both the Prologue and the second EV based on GM’s Ultium platform (sold as an Acura), will be built at GM plants. Although we don’t yet know exactly how large the Prologue will be, we know that the Cadillac Lyriq SUV, which is also based on the Ultium platform, will have a range of more than 300 miles (483 km).

Following the release of the Prologue, Honda said it will introduce a series of electrified vehicles based on its own e-Architecture. It will then introduce fully electric vehicles that it will build at its North American plants.