Honda Announces Investment in Electric Vehicles, Predicts Internal Combustion Engines Will Remain Relevant After 2040

Time Stamp: March 3, 2023 8:02 PM
Source Node: 2419860

On Tuesday, Honda announced a major investment in electric vehicles, predicting that internal combustion engines will remain relevant after 2040. The Japanese automaker said it plans to invest $2.75 billion over the next five years in the development of electric vehicles and related technologies.

The announcement comes as many other automakers are making similar investments in electric vehicles. Honda’s move is part of a larger trend of automakers investing in electric vehicles in order to meet increasingly stringent emissions regulations. Honda’s investment is also part of its goal to have two-thirds of its global sales come from electrified vehicles by 2030.

Honda’s investment will go towards developing more efficient electric motors, batteries, and charging systems. The company is also investing in autonomous driving technology and artificial intelligence. Honda said it will focus on developing electric vehicles that are more affordable and accessible to a wider range of customers.

Despite the investment in electric vehicles, Honda said it still believes that internal combustion engines will remain relevant after 2040. The company said it will continue to develop new technologies to make internal combustion engines more efficient and reduce emissions. Honda also said it will continue to invest in hydrogen fuel cell vehicles, which it believes will be an important part of its future product lineup.

Honda’s investment in electric vehicles is part of a larger trend of automakers investing in the technology in order to meet increasingly stringent emissions regulations. Honda’s move is also part of its goal to have two-thirds of its global sales come from electrified vehicles by 2030. Despite the investment, Honda still believes that internal combustion engines will remain relevant after 2040, and will continue to invest in hydrogen fuel cell vehicles as well.

Source: Plato Data Intelligence: PlatoAiStream