Honda outlines its EV strategy

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Honda is investing 5 trillion yen (US$40 billion) over the next decade in research, especially to realize a major shift to ecological electric vehicles, the Japanese automaker said Tuesday.

The products and services in the works will account for more than half of its 8 trillion yen research and development budget in that time and will be tailored for each major market, the U.S., China and Japan.

By 2027, also under its alliance with GM, Honda plans to offer an affordable electric vehicle that’s competitive with gas-powered models in performance and pricing. Honda will launch 30 EV models globally by 2030, targeting production of more than 2 million vehicles a year, according to the maker of the Accord sedan, Asimo robot and Gold Wing motorcycles.“We will continue to deliver the kind of fun in driving that our customers have come to expect from Honda,” said Chief Executive Toshihiro Mibe.

In Japan, a market dominated by gas-electric hybrids, Honda will start with small commercial vehicles, such as delivery vans.

 

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