Japan’s Honda steps up electrification investment to $65 billion through FY2030

By Thomson Reuters May 16, 2024 | 1:48 AM

TOKYO (Reuters) – Japan’s Honda Motor pledged to double its electrification and software investment to about $65 billion over the 10 years running through the 2030 business year, it said on Thursday.

Honda CEO Toshihiro Mibe told a press conference the automaker planned to spend a total of 10 trillion yen ($64.88 billion) on electrification and software over the period, twice as much as the 5 trillion yen it had pledged in April 2022.

($1 = 154.1400 yen)

(Reporting by Daniel Leussink; Editing by Kim Coghill)