Honda to invest $64 bln in EV roll-out
STORY: Honda is set to spend big on electric vehicles.
The Japanese firm says it will invest $64 billion over ten years.
It aims to roll out 30 new EV models by 2030.
By that year it wants to be making some 2 million per year.
As part of moves to meet the goal, Honda plans to set up a dedicated EV production line in North America.
It will also buy batteries from General Motors.
The two companies will also work together to produce a range of lower-priced EVs built on a common platform.
It doesn’t mean Honda is about to give up on conventional engines altogether.
The company will keep making hybrids, pointing to the many markets where the infrastructure for EV charging just isn’t in place.
Tuesday’s (April 12) news is just the latest in a series of big announcements by boss Toshihiro Mibe, in the job for just a year.
In March, he said Honda would team up with Sony to launch an electric car by 2025.
Earlier, he set a 2040 target for electric and fuel-cell vehicles to make up all sales.
