Apr 12 (Nikkei) - Honda Motor announced on Tuesday that it will invest 5 trillion yen ($40 billion) in the development of electric vehicles over the next decade and plans to release 30 EV models by 2030.
Honda said it will spend 8 trillion yen in total on research and development over that period.
The Japanese automaker, which recently announced a tie-up on affordable EVs with GM, plans to shift away from conventional cars and sell only electric or fuel cell vehicles by 2040.
Honda President Toshihiro Mibe emphasized, "We will develop high-value products on a global scale" at a briefing on the electrification of the company's four-wheeled vehicles held at Honda's headquarters in Tokyo.
At his inaugural news conference as president in April 2021, Mibe declared a withdrawal from gasoline-powered vehicles by 2040, and at this one he presented concrete measures to achieve that goal. ...continue reading