Japanese automaker Honda revs up on EVs, aiming for lucrative US, China markets

Honda has announced a significant investment of 10 trillion yen ($65 billion) through 2031 to boost its electric vehicle (EV) production, targeting major markets in the U.S. and China. By 2030, the company aims for EVs, including battery and fuel cell versions, to comprise 40% of its global auto sales, with a production capacity for over 2 million EVs annually.

The launch of the "0 Series," a new line of EVs starting from scratch, is set for 2026 in North America, with seven models expected by 2030. In China, Honda plans to introduce 10 EV models by 2027 and aims for all its auto sales to be electric by 2035. Honda is also collaborating with companies like Nissan and IBM to advance its EV and intelligent driving technologies.