Hyperdrive
Honda to Invest $3.4 Billion in Electric Motorcycles by 2030
- Japanese company aims to launch 30 electric bikes over period
- Annual electric motorcycle sales target increased to 4 million
Electric Honda motorcycles.
Photographer: Gabriel Bouys/AFP/Getty ImagesThis article is for subscribers only.
Honda Motor Co. will invest ¥500 billion ($3.4 billion) in its electric motorcycle business by 2030 and has raised its target for their annual sales to 4 million units for that year, up from a previous goal of 3.5 million.
The company plans to introduce 30 new electric motorcycle models worldwide by 2030 and will start operating dedicated electric motorcycle plants globally from around 2027, it said in a statement Wednesday. New technology will reduce the length of assembly lines by about 40%, it said.