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Honda is investing $40 billion to enter the electric car market

This article was translated from our Spanish edition using AI technologies. Errors may occur due to this process.

Given the growing demand for electric vehicles Honda has decided to take action on the matter and announced last Tuesday that it would invest around $39.8 billion in research. software and development to start his electrical line within the next ten years.

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This strategy is considering the launch of 30 new models of electric vehicles by 2030 , including two SUVs and a mini car, and increasing production to more than two million electric vehicles per year. The Japanese automaker is dedicating particular attention and budget to developing its own range of solid-state batteries, a power source that is lighter and quicker to charge, thus offering a longer range than the lithium batteries currently in use. in electric cars.

The idea is that these batteries will already be on the market before 2030, while lithium batteries will continue to be used and sourced, in North America by General Motors, an automaker with which it has an agreement to source batteries, while in China the deal is with CATL and Tesla . These moves put Honda on the EV bandwagon to catch up with its global competitors, who have announced significant investments in multi-million dollar transactions in favor of the gasoline-to-electric transition for a number of years.

https://www.entrepreneur.com/article/424952 Honda is investing $40 billion to enter the electric car market

Brian Ashcraft

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