Dow Jones Newswires: Honda plans to produce 2 million EVs annually by 2030


Honda Motor Co. said Tuesday that it plans to produce 2 million electric vehicles annually by 2030 as part of its bid to cut carbon emissions.

The Japanese auto maker said it aims to introduce 30 models globally by 2030.

Honda 7267, +0.12% HMC, -0.08% plans to use lithium-ion batteries from General Motors Co. GM, +2.49%, Contemporary Amperex Technology Co. 300750, +0.66% and Envision AESC for the time being.

Honda said it aims to use the solid-state battery it is developing for models to be sold in the late 2020s.

The company targets spending 8 trillion yen ($63.86 billion) for research and development over the next 10 years.

Honda and Sony Group Corp. 6758, -3.12% SONY, -5.54% had said in March that they intend to jointly develop and sell electric vehicles. They said they aimed to begin selling the EVs in 2025.

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