Honda is planning to invest around 5 trillion yen ($40 billion) in electrification and software technologies over the next 10 years. The goal for the Japanese company is launching 30 electric vehicle EVs models worldwide by 2030, among them two SUVs and a mini car.
Approximately 3.5 trillion yen would go toward research and development expenses, with 1.5 trillion yen focused on investments: The whole strategy includes ramping up production to more than 2 million EVs annually.
According to industry experts Honda’s transition to battery-electric vehicles has been very challenging. Honda is the latest automaker to announce multibillion-dollar investments for EVs and, unlike other automakers, it is also continuing to bet on hybrids.
Today, Honda’s participation in the surging EV market finally made the news. According to media reports the Japanese automaker is exploring the possibility of creating a joint venture for battery production and also planning for a dedicated EV production line in North America.
Just last week General Motors and Honda announced a new series of affordable electric vehicles based on a new joint platform coming to the market in 2027.
With several major economies looking to cut the number of diesel and gasoline vehicles in the years ahead, every automaker is moving fast developing the best zero-emission vehicles in the market.