Honda to invest $64 Billion in launching 30 EV models by 2030

Honda Motor Co. is planning on spending 8 Trillion Yen ($64 Billion) on research and development in its electric vehicles in a push to put out 30 new EV models and manufacture over 2 million electric vehicles by 2030.

Honda E

This investment is in line with Honda’s goal to phase out all gas-powered cars by 2040. The majority of the new investment will include Honda building its own electrification architecture, software, and in startups that can help the automaker expand. It is also said that the automaker will spend 43 Billion Yen on building a new demonstration line for the production of solid-state batteries by the start of Spring 2024.

This all comes as news as Honda had recently partnered with Sony to develop EV’s by 2025 and General Motors Co. to co-develop affordable EVs using GM’s Ultium platform by 2027.

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