Japan’s Honda Motor Company plans to spend $64bn on research and development over the next decade, the company said on Tuesday, laying out an ambitious target to roll out 30 electric vehicle models globally by 2030.
Honda said it wanted to establish a dedicated electric vehicle production line in North America, where it will procure Ultium batteries from General Motors. The push towards electric vehicles prompted the group to hunt for partners to optimise costs and share technology. Proponents of hybrids point to the many markets, especially in emerging countries, where infrastructure to support battery electric vehicles will be a long time coming.“We will develop our current hybrids and use them as a weapon in our business.”
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