TOKYO – Honda Motor Co., in the midst of a radical corporate makeover, said it will invest 5 trillion yen ($39.91 billion) over the next 10 years in electrification as it rolls out 30 full electric vehicles globally and builds production capacity for 2 million EVs annually by 2030.
In announcing the new push on Tuesday in Japan, Honda said it will also shift its business away from non-recurring hardware sales toward recurring sales of services that combine hardware and software.
It is part of new software-defined EV platform, dubbed e:Architecture, that the company will launch in 2026 to underpin the next generation of large-sized battery electric cars from Honda.