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Honda will launch a total of seven new EV models globally by 2030.

Honda to Invest $65 Billion Over 10 Years to Bolster EV Push.

The investment doubles what was planned in 2022 and accelerates EV development.

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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.

As part of that target, Honda will roll out seven new EV models globally by 2030, Chief Executive Officer Toshihiro Mibe said at a briefing in Tokyo. It plans to start selling two new EV models in China later this year, and will introduce an EV with a swappable battery to Japan by the end of fiscal 2026.

The company said it’s positive on its ability to secure enough batteries to produce about 2 million EVs per year. Honda also needs to build an EV factory in Japan, without providing further details.


Source:Assia Nikkei
Image: Honda