Honda unveils big plans for long-term electrification push
In a recent briefing, Honda Motor Co. presented its plans until 2030, including significant investments in the electrification of its products. The automaker will spend $40 billion on these efforts, including “building its own electrification architecture and exploring new growth opportunities in space exploration, eVTOL, avatar robots and more.”
Another $60 billion will be invested in research and development. Honda CEO Toshihiro Mibe also announced an additional $80 million allocated to “startups that could help the automaker grow its business and shift from selling stand-alone products to offering combination solutions.” He added that Honda “will also actively pursue cross-industry collaboration and alliances.”
By the end of the decade, Honda also plans to launch 30 electric vehicle models and produce more than two million vehicles per year. In 2024, Honda will introduce an inexpensive utility vehicle in Japan. In North America, the company will launch a Honda Prologue electric SUV and an Acura luxury electric SUV in the same year.
Honda will also continue partnerships with other companies like General Motors, allowing Honda to use its Ultium platform in some of its upcoming electric vehicles and seeking to form joint ventures for the production of EV batteries. Honda also hopes to soon offer an electric sports car, develop its own electric vehicle platform and open an electric vehicle production line in North America at some point.
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