Honda to launch 30 EV models by 2030
Honda has unveiled a massive electrification plan, including a $40 billion (5 trillion yen) investment in developing its electric vehicles and software over the next decade.
The electrification plan of the Japanese automaker aims to release 30 EV models by the end of the decade and manufacture more than 2 million vehicles per year.
Electrification grabs the lion's share in the total budget for the same period, amounting to $64 billion (8 trillion yen). The Japanese automaker will spend the rest of the budget to conduct R&D in multiple areas, including space exploration, electric vertical take-off and landing (eVTOL) aircraft and avatar robots.
The investment also includes an additional $80 million (10 billion yen) each year for startups to ease Honda's efforts to expand the business and provide combined solutions to customers.
Affordable EVs for the world
Under the recently announced partnership with GM, Honda will make use of the Ultium architecture and EV platform of its partner. Nevertheless, Honda is determined to design and build its EV architecture, integrated with software development.
Honda's ambition to sell affordable EVs has clearly benefited from the new collaboration and investments. The automaker plans to introduce a mini-EV model in Japan in 2024 for only $8,000 (1 million yen).
In the US, Honda plans to launch two SUV models, Prologue and Acura, developed in collaboration with GM and to be offered at a price similar to that of ICE vehicles. Honda will use GM's Ultium platform to produce EVs for a price tag around $30,000, while it appears to have the desire to develop its own architecture for other regions.
Expansion in China will also accelerate, as Honda has already announced the plan of rolling out ten new EV models in China, two of them expected this year. Honda is also preparing to set the foundation of two EV plants in Guangzhou and Wuhan.
Image courtesy of Honda.