Honda executives outlined an ambitious electrification plan April 11 that devotes almost $40 billion over the next 10 years to electric vehicle-related software technologies that speed up its conversion to more EVs, including R&D expenses and other investments. 

Honda is planning to launch 30 EV models globally by 2030 with production volume of more than two million units annually, according to a news release summarizing the streamed presentation by leading executives in Tokyo. It will build a demonstration line for the production of all-solid-state batteries with an investment of about $342 million and further accelerate the research with a goal to start demonstration production in Spring 2024.

As a major power unit manufacturer with annual sales about 30 million units of mobility products including automobiles, motorcycles, power products, outboard motors and aircraft, Honda aims to realize carbon neutrality for all of its products and corporate activities by 2050, striving to eliminate carbon emissions from power sources of a wide variety of products. That includes the use of swappable batteries and hydrogen as well as electrification of automobiles.

In North America, Honda by 2024 will introduce two mid- to large-size EV models being developed jointly with GM. Those are the all-new Prologue SUV and an Acura EV SUV model.

In 2026, Honda will begin adopting Honda e:Architecture, an EV platform that combines the hardware and software platform. Through the alliance with GM, Honda is planning to introduce affordable EVs in 2027, with a cost and range that will be as competitive as gasoline-powered vehicles, starting from North America.