Honda to Invest $39 Billion With Focus on EVs, Batteries

Honda Motors has announced that it will invest approximately 5 trillion yen (~$39.84 billion) in electrification and software technologies to accelerate its business globally in the next ten years. The motor vehicle conglomerate plans to invest 8 trillion yen (~$63.74 billion) in research and development until 2030.Honda will build a demonstration line to produce all-solid-state batteries in North America, allocating approximately 43 billion yen (~$342.65 million). Through this investment, Honda will launch two mid-to-large-scale electric vehicles (EV) models by 2024 — Prologue SUV and Acura brand, jointly being developed with General Motors (GM).Starting this financial year, Honda has moved its core technology areas from its product-based organizations and combined under the newly formed Business Development Operations. These core areas include electrified products and…

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