Electric cars: Honda to invest US$40 billion over the next decade

Japanese automaker Honda announced Tuesday that it will invest nearly $40 billion over the next decade in the technology of electric vehiclesin an effort to distance itself from cars with combustion engines.

The company said in a statement that expects to launch 30 electric car models by 2030with a production of more than two million units.

The announcement follows in the footsteps of other giants in the auto industry that have prioritized electric and hybrid models, given the growing demand for less polluting cars.

Honda E, one of the first electric vehicles of the Asian firm. (Sling/)

Honda said it would allocate five trillion yen ($39.9 billion) over the next 10 years “to the area of ​​electrification and technologies to further accelerate electrification.”

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The investment is the last step in your effort to electric and fuel cell cars represent 100% of its sales by 2040a goal announced a year ago.

Honda and Japanese technology conglomerate Sony announced in March that they would create a new company to develop and sell electric cars, with the expectation of selling its first model in 2025.

At the moment, about 10% of car sales in Europe are electricwhile in the United States they are 2%.

Various companies globally have joined forces to promote the electric car sector.

But demand is booming, and other manufacturers are pouring money and resources into electric vehicles.

This year, the manufacturer alliance of Nissan, Renault and Mitsubishi promised to offer 35 new electric models by 2030with a total investment of 25,000 million dollars.

Toyota, the world leader in car sales, projects that, by 2030, 75% of its sales will be from electric cars.

Source: Elcomercio