Honda Pours $40 billion into EVs

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 $40 Billion Investment Over the Next Decade




                                        Source:  Honda

Millions of Honda EVs to Go Into Production

Japanese automotive giant Honda is investing $40 billion to electrify its car lineup.  The investment over the next decade will cover R&D and production.  Honda says that by 2030 it will have launched 30 new EVs, including two SUVs and a mini-car.  The company is also accelerating production to 2 million electric vehicles per year.

Big Battery Push

Honda is simultaneously focusing on the development of solid-state batteries that are lighter, faster to recharge and provide longer range than current lithium-ion batteries used to power EVs.  Honda expects to bring its own solid-state batteries to the global market in the second half of this decade.  It is also exploring potential next-G battery partnerships globally.  Honda believes that the new batteries will significantly reduce the cost of EVs and greatly extend their miles-range on a charge.

EV's Highly Competitive Marketplace

In announcing its new $40 billion investment, Honda is joining global automakers like VW, Toyota, GM, Mercedes, Ford and Hyundai who are investing billions in electric vehicles to gain dominance in the rapidly growing EV market.  Honda also recently formed a partnership with GM to develop what they are calling an "affordable" EV to be launched in 2027. 

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