Japan’s Honda outlines strategy to forge ahead on EVs

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Honda is investing $40 billion over the next decade in research, especially to realize a major shift to ecological electric vehicles. The Japanese automaker said Tuesday the products and services in the works will account for more than half of its $64 billion research and development budget in that time and will be tailored for each major market, the U.S., China and Japan. In North America, Honda and General Motors are jointly developing two midsize to large EV models set for sale in 2024. Honda will launch 30 EV models globally by 2030, targeting production of more than 2 million vehicles a year.