Honda to double 10-year EV and software investment to $65bn

TOKYO — Honda Motor plans to invest 10 trillion yen ($65 billion) in electrification and software development over the decade through the financial year ending March 2031 as it prepares to join the rapid shift to electric vehicles in highly competitive auto markets like China’s, the carmaker said on Thursday.

The investment doubles what was planned in 2022 and accelerates EV development.