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Automobiles

Honda to invest $40bn in EVs as it aims to go all-electric by 2040

Company to launch 30 electric models by 2030

Honda Motor is accelerating its global expansion of electric vehicles.   © Reuters

TOKYO -- Honda Motor announced on Tuesday that it will invest 5 trillion yen ($40 billion) in the development of electric vehicles over the next decade and plans to release 30 EV models by 2030.

Honda said it will spend 8 trillion yen in total on research and development over that period.

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