Honda has revealed a 10-year plan that includes launching 30 new electric vehicles (EVs) by 2030. The plan also aims for an annual production volume of over two million units globally.
The company will debut two new mid-sized EVs which it will jointly produce with General Motors (GM). Honda will launch Prologue SUV first, and then an Acura EV will follow soon after.
The carmaker is specifically eyeing China as its primary EV market, aiming to launch 10 new cars in the next five years. For Japan, it will launch a commercial mini EV, passenger mini-EVs, and a few SUVs. Honda did not mention a timeline for the Japanese market.
Honda’s alliance with GM aids it in the procurement of an EV platform and battery packs. It also announced a further acceleration of its independent research and development into solid-state batteries.
The company has earmarked around 8 trillion yen — 62.5% of its budget — to develop EVs and accompanying software technologies. With these efforts, it is poised to become the first car company from Japan to make swift advances in the EV arena.