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Honda to spend $40 billion on 30 new EV models over coming decade

The trend in motoring at the moment is to electrify. We have seen a number of carmakers state intent to switch to a fully electric vehicle lineup, with 2030 often being the year bandied about.

Honda is no different, with the company recently announcing a partnership with Sony and now confirming that it plans to manufacture as many as 30 new EV car models by 2030.

The Japanese firm has earmarked a considerable amount of money for such an endeavour, with an estimated $40 billion being thrown around.

“Over the next 10 years, Honda will allocate approximately 5 trillion yen in the area of electrification and software technologies to further accelerate its electrification, including both R&D expenses and separate investments. Honda’s overall R&D expenses budgeted for this period will be approximately 8 trillion yen,” the company explained in a press release regarding its plans.

“Honda is planning to launch 30 EV models globally by 2030 with production volume of more than 2 million units annually. Honda will build a demonstration line for the production of all-solid-state batteries with an investment of approximately 43 billion yen and further accelerate the research with a goal to start demonstration production in Spring 2024,” it added.

Whether any of the aforementioned 30 new EVs will hit South Africa roads in an official capacity remains to be seen, with last year’s Honda e (picture in header image) not heading to SA.

For now it looks like North America, China and its native Japan will serve as the key markets for the company moving forward. China in particular holds value for Honda, with 10 new models set to launch in the Asian county by 2027.

Given Honda’s strong brand presence in SA and our economic relations with Japan, hopefully some EVs do eventually find their way to our shores.

 

 

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