In a recent briefing, Honda Motor Co. laid out its plans through 2030, including significant investments in the electrification of its products. The automaker will be dedicating $40 billion towards these efforts, including “building its own electrification architecture and exploring new growth opportunities in space exploration, eVTOL, avatar robots and more.” 

An additional $60 billion will be invested into research and development. Honda CEO Toshihiro Mibe also announced another $80 million allocated for “startups that could help the automaker to expand its business and shift from selling products alone to offering combined solutions.” He added that Honda “will also actively pursue inter-industry collaboration and alliances.”

By the end of the decade, Honda also plans to release 30 electric vehicle models and produce over two million vehicles per year. In 2024, Honda will introduce an inexpensive commercial vehicle to Japan. In North America, the company will release an electric Honda Prologue SUV and a luxury electric Acura SUV that same year. 

Honda will also be continuing partnerships with other companies like General Motors, allowing Honda to utilize its Ultium platform in some of its upcoming electric vehicles and looking to form joint ventures for EV battery production. Honda also reportedly hopes to offer an electric sports car soon, develop its own EV platform, and open an EV production line in North America at some point. 

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