New model announcements from Honda or automotive industry news

Honda Pledges $65 Billion for EV and Software Investment by 2030, Prioritizes Canada

May 16, 2024, 08:10 AM

Honda Motor Co. has announced a significant increase in its investment towards electrification and software, pledging to spend $65 billion through the fiscal year 2030. This move is part of Honda's strategy to double its investment in electric vehicles (EVs) and software, aiming to capture lucrative markets in the US and China. The company is also responding to the global push for EV adoption despite a recent slowdown in EV sales in several markets. CEO Toshihiro Mibe confirmed the investment, which will be crucial for Honda's transition towards a more sustainable future. The investment, also noted as $64.8 billion and 10 trillion yen, will prioritize Canada.