Honda has a grand plan. By 2030, it proposes to launch 30 new electric vehicles as it invests 5 trillion yen ($40 billion) into the development of EVs over the next decade.

The firm also announced it will spend around 8 trillion yen (@ $62.5 billion) in total on research and development over that time period…

Having recently announced a collaboration on reasonably-priced EVs with GM, the Japanese firm says its plans to shift away from conventional gasoline and diesel cars and become a carmaker that only offers electric or fuel cell vehicles by 2040…

Honda’s R&D spending over the past decade amounted to approximately 7 trillion yen (@$54.7b), which means that this investment will be boosted by over 10%. According to Mibe, some 60% of R&D expenditures will be channeled into developing EVs and appropriate software.