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EVs – Honda to Invest ~$65 Billion Through 2030
Honda Motor company Global CEO Toshihiro Mibe said today that it will invest ¥10 Trillion (~$65 billion) through 2030 on its electrification strategy as part of a vast reorganization or re-prioritization of its corporate strategy. Through the establishment of a vertically-integrated EV value chain with a central focus on batteries, as of 2030, Honda will reduce the cost of the battery to be procured in North America by more than 20% compared to the cost of current batteries. Honda promised it will establish a competitive business structure with an aim to reduce overall production cost by approximately 35%. Honda already has secured enough batteries for the planned production of approximately 2 million EVs per year. Continue reading →