Honda has announced plans to invest 500 billion yen ($3.4 billion USD) in the production of 30 new electric motorcycle models by 2030. The Japanese multinational company also plans to reduce the current cost of electric motorcycles by up to 50 percent.
Honda has been the largest motorcycle manufacturer in the world since 1959, with a total production count of 400 million units as at 2019.
The company plans to invest an initial 100 billion yen in the first few years leading up to 2025, and an additional 400 billion yen from 2026 to 2030. With this investment plan, global annual sales target for 2030 was also increased by 14%, from an initial 3.5 million units to 4 million units.
