Honda's $65 Billion Investment to Challenge Tesla and BYD with Seven New EV Models
- 4 days ago
Honda plans to invest $65 billion through 2030 to build seven new EV models as part of a strategy to stay competitive against Tesla and BYD. The investment is double Honda's previous EV budget and aims to slash costs and establish battery and supply chain infrastructure. Honda will introduce 10 new EVs in China by 2027, representing 100% of auto sales there by 2035, targeting the market with its new "Ye Series." Small commercial and personal mini-EV models will launch starting in 2025, following the N-Van e commercial van.