Honda Pours $40 billion into EVs
$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