TOKYO -- Six out of seven major Japanese automakers are on track to set records for both capital expenditures and research and development spending this fiscal year as they prepare for an anticipated rise in demand for hybrids and electric vehicles.
Automobiles
Toyota, Honda to set capex and R&D spending records amid EV pivot
Japan automakers to boost total capital expenditures by 20% this fiscal year
Honda Motor plans big increases in capital expenditures and R&D spending in fiscal 2024 to meet its electric vehicle sales goals. (Honda Motor)
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