Japan's Honda outlines strategy to forge ahead on EVs
ABC News
Honda is investing $40 billion over the next decade in research, especially to realize a major shift to ecological electric vehicles
TOKYO -- Honda is investing 5 trillion yen ($40 billion) over the next decade in research, especially to realize a major shift to ecological electric vehicles, the Japanese automaker said Tuesday.
The products and services in the works will account for more than half of its 8 trillion yen ($64 billion) research and development budget in that time and will be tailored for each major market, the U.S., China and Japan.
Efforts in North America will focus on the collaboration with General Motors Co., under which Honda Motor Co. is jointly developing two midsize to large EV models, set for sale in 2024.
By 2027, also under its alliance with GM, Honda plans to offer an affordable electric vehicle that’s competitive with gas-powered models in performance and pricing.
