TOKYO — Japanese automaker Honda reaffirmed its commitment to electric vehicles Thursday, saying it will invest 10 trillion yen through fiscal 2031 to deliver EV models around the world, including the U.S. and China.
The so-called “0 Series,” a key part of Honda’s EV strategy, will be a totally new EV series created from “zero,” Chief Executive Toshihiro Mibe told reporters in an online presentation. Despite some talk of a slowdown in electric vehicles in some markets, the move toward EVs remains solid in the long run, becoming dominant in the latter half of the 2020s, according to Honda, which makes Acura and Civic sedans and Gold Wing Tour motorcycles.
Of the 10 trillion yen investment in the works, about 2 trillion yen will go into research and development on software and another 2 trillion yen into setting up comprehensive EV value chains in key markets such as the U.S., Canada and Japan.
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