Asian Tech Press (Apr. 12) -- Japanese carmaker Honda Motor Co (NYSE: HMC) is planning to launch 30 EV models globally by 2030 with production volume of more than 2 million units annually.

Honda said Tuesday in a statement that it will invest approximately 5 trillion yen ($39.8 billion) in the area of electrification and software technologies to further accelerate its electrification.

In addition to the launch of 30 electric vehicle models, Japan's second-largest automaker will invest about 43 billion yen ($342.3 million) to build a demonstration line for producing all-solid-state batteries, with demonstration production to begin in spring 2024.

The company promised last April to stop selling gasoline and diesel cars and to increase its ratio of electric vehicles (EVs) and fuel cell vehicles (FCVs) to 100% of all sales by 2040.

(US$1 = 125.6195 yen)