Honda has announced its plans to invest at least $40 billion through 2030 to push hybrid and fully electric vehicles to 40 percent of its sales by the end of the decade. This comes amid the automaker's relatively slow pace compared to rivals such as Volkswagen and GM in committing billions of dollars to develop and build EVs and batteries.
Despite this commitment to electrification, Honda's CEO Toshihiro Mibe believes that combustion engines could still be around by 2040 and beyond. "As we move toward carbon neutrality, we are focused on electrification and fuel cells - those are the two core components of future mobility," said Mibe in a Reuters report.
