TOKYO, May 16, 2024 (BSS/AFP) - Japanese auto giant Honda said Thursday it will double investment in its electric vehicle strategy to $65 billion by 2030.

"Honda is planning to invest approximately 10 trillion yen in resources... through 2030, when the period of full-fledged popularisation of EVs is expected to start," a statement said. The company had previously allocated five trillion yen to EV tech by 2030.