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Honda to launch 30 EVs with $40 bn investment by 2030

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Tokyo, April 12 (IANS) Automaker Honda has announced plans to launch 30 electric vehicle (EV) models globally by 2030 — a full lineup from commercial-use mini-EVs to flagship-class models — with production volume of more than 2 million units annually.

Over the next 10 years, Honda will allocate approximately 5 trillion yen ($40 billion) in the area of electrification and software technologies to further accelerate its electrification, including both R&D expenses and separate investments.

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Honda’s overall R&D expenses budgeted for this period will be approximately 8 trillion yen, the company said in a statement late on Monday.

“Honda will build a demonstration line for the production of all-solid-state batteries with an investment of approximately 43 billion yen and further accelerate the research with a goal to start demonstration production in Spring 2024,” said the company.

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The key challenge in the EV era is the global procurement of batteries.

Honda said it will ensure stable procurement of liquid lithium-ion batteries in each region by strengthening the external partnership.

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Honda will introduce products tailored to the market characteristics of each region (North America, China and Japan).

In 2026, the automaker will begin adopting Honda e: Architecture, an EV platform that combines the hardware platform and software platform.

Through the alliance with GM, Honda is planning to introduce affordable EVs in 2027, with a cost and range that will be as competitive as gasoline-powered vehicles, starting from North America.

–IANS

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