TOKYO -Japan's Honda Motor Co Ltd said on Tuesday it plans to spend $64 billion on research and development over the next decade, laying out an ambitious target to roll out 30 electric vehicle models globally by 2030.
Its goals also include producing some 2 million electric vehicles a year by 2030. The strategy marks a push to take ground in the fast-growing market for electric vehicles, where Tesla Inc leads and Japanese automakers risk falling behind traditional European and U.S. rivals. Honda and other Japanese automakers have long said that even as they go electric, they won't give up on older, hybrid technology. Proponents of hybrids point to the many markets -especially some emerging markets - where infrastructure to support battery electric vehicles will be a long time coming.
"By no means is this the end of hybrids and the replacement of all hybrids with EVs," Honda Chief Executive Toshihiro Mibe told the presentation.The bulk of the 8 trillion yen investment would be in electrification and software technologies. That includes some 43 billion yen of spending on a demonstration line for the production of solid-state batteries, with the aim of starting that in spring 2024.
Shares of Honda finished up 0.7% at the close of morning trade in Tokyo, outperforming a 1.4% decline in the Nikkei 225 index.
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Honda to spend US$64 billion on R&D as it revs up electric ambitionsTOKYO: Japan\u0027s Honda Motor Co said on Tuesday (Apr 12) it plans to spend US$64 billion on research and development over the next decade, laying out an ambitious target to roll out 30 electric vehicle (EV) models globally by 2030. Its goals also include producing about 2 million EVs a year by 2030. The stra We all have to convert every day and fight for the salvation of others, pray, not judge, God is for judgment, only He is Righteous. We are sinners. Our common hope is Jesus and let us also cry to him for the enemies, as the Lord taught
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Honda to spend $64 billion on R&D as it revs up electric ambitionsTOKYO :Japan's Honda Motor Co Ltd plans to spend 8 trillion yen ($64 billion) on research and development over the next 10 years as it aims to roll out more than 30 electric vehicle models globally by 2030.The targets, laid out at a company presentation on Tuesday, mark a push by the automaker to ramp up in t
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Honda says to spend $64 billion on R&D as it revs up electric ambitionsTOKYO : Japan's Honda Motor Co Ltd plans to spend 8 trillion yen ($64 billion) on research and development over the next 10 years, as it looks to roll out more than 30 electric vehicle models globally by 2030.The automaker also said on Tuesday it plans to produce some 2 million electric vehicles a year by
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Honda to spend US$64 billion on R&D as it revs up electric ambitionsTOKYO: Japan\u0027s Honda Motor Co said on Tuesday (Apr 12) it plans to spend US$64 billion on research and development over the next decade, laying out an ambitious target to roll out 30 electric vehicle (EV) models globally by 2030. Its goals also include producing about 2 million EVs a year by 2030. The stra We all have to convert every day and fight for the salvation of others, pray, not judge, God is for judgment, only He is Righteous. We are sinners. Our common hope is Jesus and let us also cry to him for the enemies, as the Lord taught
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »