Honda invests 460 billion yuan to promote the transformation of automobile electrification

Honda plans to invest 10 trillion yen (about 462 billion yuan) in the transformation of automobile electrification by 2030, which is twice the 5 trillion yen it promised to invest in April last year. Honda Motor CEO Toshihiro Mibe said that the funds will be used to promote electrification goals, reform procurement and production structures, expand electrification product lines, and implement financial strategies.