Honda plots $65 billion investment to build seven new EVs as it looks for a comeback

Honda's $65 billion investment in seven new electric vehicles (EVs) is a bold move to regain market share and stay competitive in the EV market.

Honda is doubling its investment in EVs to $65 billion through 2030,

aiming to launch seven new electric models and achieve a 5% return on sales for its EV business by 2030.

CEO Toshihiro Mibe outlined Honda's new strategy, expressing confidence in the company's ability to compete in the small electric vehicle and motorbike segment.

Honda plans to introduce new EVs globally, from small to large, with a focus on the second half of the 2020s for the period of EV popularization.

To support its EV expansion, Honda will strengthen partnerships for lithium-ion batteries

and establish a vertically-integrated supply chain for battery production.

Honda's ambitious investment and strategic plans signal a strong commitment to the future of EVs,

aiming to turn the tide and increase its EV sales share globally.