Honda to invest $63 billion in electric vehicle development

April 12, 2022

Even in the era of electrification, Honda intends to introduce two sports models (Courtesy Honda Motor Co)
Even in the era of electrification, Honda intends to introduce two sports models (Courtesy Honda Motor Co)

In a recent press conference, Honda Motor Co., Ltd., outlined its path to achieving carbon neutrality, including a planned investment of US $63 billion in electric vehicle development over the course of the next decade.

The auto manufacturer plans to budget approximately ¥8 trillion for its research and development expenses, with approximately ¥5 trillion (US $40 billion) focused in the areas of electrification and software. It also intends to expand its range of technologies and businesses by investing, at a scale of ¥10 billion a year, in startups with high-potential technologies and business models.

Based on its policy to utilise external funding methods on an as-needed basis, Honda has already issued Green Bonds totalling US $2.75 billion in March 2022. By allocating the proceeds from these to the development and production of EVs and FCVs, Honda hopes to further accelerate its initiatives toward the realisation of carbon neutrality.

From the second half of the 2020s, Honda anticipates further accelerating its independent battery R&D. For the all-solid-state batteries the company is currently developing, Honda intends to build a demonstration line with an operational goal of spring 2024. The company hopes to adopt its next-generation batteries to models scheduled for introduction in the second half of the decade.

In early 2024, Honda expects to introduce a commercial-use mini EV model in the ¥1 million price range before expanding into personal-use mini EVs and EV SUVs. By 2030, the company hopes to have launched thirty EV models globally.

In the latest issue of PM Review…

Download PDF

Extensive Powder Metallurgy industry news coverage, and the following exclusive deep-dive articles and reports:

  • Phoenix Sintered Metals: A story of transformation, growth and community from America’s PM heartland
  • World PM2024 Yokohama: The stage is set for the PM industry to find a path to sustainable growth
  • The state of Europe’s hard magnets industry and the challenge of optimising the mass production of Nd2Fe14B permanent magnets

The latest news from the world of metal powders, delivered to your inbox

Don't miss any new issue of PM Review, and get the latest industry news. Sign up to our weekly newsletter.

Sign up

Join our community

Discover our magazine archive…

The free-to-access PM Review magazine archive offers unparalleled insight into the world of Powder Metallurgy from a commercial and technological perspective through:

  • Reports on visits to leading PM part manufacturers, metal powder manufacturers and industry suppliers
  • Articles on technology and application trends
  • Information on materials developments
  • Reviews of key technical presentations from the international conference circuit
  • International industry news

All past issues are available to download as free PDFs or view in your browser.


Browse the archive


Looking for PM production equipment, metal powders, R&D support and more?

Discover suppliers of these and more in our
advertisers’ index and buyer’s guide, available in the back of PM Review magazine.

  • Powders & materials
  • Powder process, classification & analysis
  • PM products
  • Atomisers & powder production technology
  • Compaction presses, tooling & ancillaries
  • Sintering equipment & ancillaries
  • Post-processing
  • Consulting & toll sintering
View online
Share via
Copy link