Honda is planning to launch 30 electric vehicle (EV) models globally by 2030 with production volumes of more than 2 million units annually, the company during a live briefing Monday night.
Honda will allocate about US $40 billion (5 trillion yen) in the area of electrification and software technologies to further accelerate its plans. Honda’s overall R&D expenses budgeted for this period will be approximately US $64 billion (8 trillion yen). Honda is also building a demonstration line for the production on all-solid-state batteries with an investment of US $343 million (43 billion yen).
The Japanese car maker says it will build a dedicated EV production line in North America and will be introducing two mid- to large-size EV models in North America in 2024. The models – the all news Prologue SUV and an EV version of the Acura SUV — are being developed jointly with General Motors. By 2026 Honda will begin adopting its e: Architecture, an EV platform that combines the hardware platform and software platform. In 2027, through the alliance with GM, Honda is planning to EVs in a cost and range that will be as competitive as gasoline-powered vehicles, starting from North America.
A key challenge in producing EVs is the global procurement of batteries. In North America, Honda has a deal to procure Ultium batteries from General Motors. Separately from GM, however, Honda is “exploring the possibility of creating a joint venture company to produce batteries.
Honda’s aim is to realize carbon neutrality for all its products and corporate activities by 2050 and believes that “a multifaceted and multidimensional approach is needed, not a mere replacing of engines with batteries.”
Over the next decade, Honda will also invest around $64 billion (8 trillion yen) in research and development, and an additional $80 million (10 billion yen) per year in startups with an aim to expand its business and evolve from just selling products to offering combined solutions