Honda has announced that it will invest around $65 billion in electric vehicles through 2030, doubling the commitment it made two years ago. While Honda is aware that current trends indicate buyers are more interested in hybrids than EVs, it predicts that demand for all-electric cars will rapidly increase in the second half of the decade. When 2030 rolls around, Honda wants to be producing more than 2 million EVs, when EVs and FCEVs are anticipated to represent 40% of global sales. Through strengthened supply chains said to be adequate for the planned production of these EVs, Honda predicts the cost of battery procurement to drop by "more than 20% compared to the cost of current batteries" and overall production costs by "approximately 35%." So, what can we expect over the next few years?
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