Japanese car giant Honda targets EV expansion, earmarks billions for R&D


With several major economies looking to cut the number of diesel and gasoline vehicles on their roads, Honda and other carmakers are attempting to develop electrification strategies that will allow them to remain competitive going forward.

Aimur Kytt | Istock Editorial | Getty Images

Honda plans to invest around 5 trillion yen ($39.9 billion) in electrification and software technologies over the next 10 years, with the Japanese automotive giant aiming to launch 30 electric vehicle models worldwide by 2030.

In a statement Tuesday, the company said approximately 3.5 trillion yen would go toward research and development expenses, with 1.5 trillion yen focused on investments.

Honda said it would…


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