Honda to Invest $65 Billion Over 10 Years to Bolster EV Push
- Automaker to roll out seven new EV models globally by 2030
- There’s no derailing world’s move toward decarbonization: CEO
Honda will launch a total of seven new EV models globally by 2030.
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Honda Motor Co. will invest 10 trillion yen ($65 billion) on its electrification strategy this decade as it expects demand for battery-powered vehicles will rebound from short-term headwinds that are stifling purchases.
The spending, which will run through fiscal 2031, will cover areas including software, research and development, and establishing supply chains in key markets like the US, Canada and Japan, the company said Thursday in its business plan update. The carmaker maintained its goal of battery and fuel-cell EVs accounting for 100% of global sales by 2040.