Honda to Invest $62 Billion in Electrification and Launch 30 EVs by 2030

The carmaker’s ultimate aim is an entirely electric- or fuel-cell vehicle product line by 2040. Honda also plans to build dedicated production plants in China and an EV production line in North America.

Cindy Brauer・Former Managing Editor

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May 16, 2022

Honda to Invest $62 Billion in Electrification and Launch 30 EVs by 2030 — According to Shinji Aoyama, Honda senior managing executive officer, the auto manufacturer expects annual EV production volume will reach 2 million units and cover a full lineup from commercial-use mini-EVs to flagship models.
Honda

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Honda plans to invest $62 billion in research and development of electric vehicles (EVs) with the goal of globally launching 30 new EVs by 2030.

For two key target areas, electrification and software, Honda plans to devote approximately $38.5 billion over the next decade. The carmaker’s ultimate aim is an entirely electric- or fuel-cell vehicle product line by 2040.

According to Shinji Aoyama, Honda senior managing executive officer, the auto manufacturer expects annual EV production volume will reach 2 million units, covering a full lineup from commercial -use mini-EVs to flagship models. The company plans to build dedicated two production plants in China and an EV production line in North America.

In addition to securing stable supplies of liquid-lithium-ion batteries by “strengthening external partnerships” in key regions, Honda plans to fast-track next-generation battery research and development, bringing the technologies in-house.

“We will accelerate research aiming to adopt our next-generation batteries to our models in the second half of the 2020s,” said Aoyama.

Honda will introduce, through its alliance with GM, affordable EVs with cost and range as competitive with gasoline-powered vehicles, starting from North America in 2027, according to Aoyama.

Topics:Battery-Electric Vehicles Honda Electrification Global Fleet

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