TOKYO -- Honda Motor plans to pour a record 1.19 trillion yen ($7.6 billion) into research and development this fiscal year as it steps up the development of electric vehicles to catch up to Tesla and Chinese players.
Automobiles
Honda speeds up EV push with record R&D spending
Carmaker's per-auto development cost is more than twice Toyota's
Honda plans to build electric vehicles and their parts in Ontario with financial support from the Canadian and provincial governments. © Reuters
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