Honda is joining the flurry of global automakers spending tens of billions of dollars to go electric.
The Japanese company announced Tuesday that it would invest approximately 5 trillion yen to electrify its lineup over the next decade, including software and research and development.It wants to launch 30 new electric vehicle models, including two SUVs and a mini car, by 2030. The manufacturer also plans to ramp up production to more than 2 million EVs annually.
Read MoreAmerica's electric cars need lithium so badly it may wipe out this species In the meantime, it still has to rely on lithium batteries, which it currently gets from external partners.In north America, Honda has agreed to source batteries from General Motors , though the Japanese company said Tuesday that it hadn't ruled out the idea of forming a joint venture to produce such technology with another partner.
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