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

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.

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.

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. 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.

(With inputs from IANS)

Published on: Tuesday, April 12, 2022, 09:59 PM IST