Honda says it will double investment in EVs by 2030 to $65 billion

The company had previously allocated five trillion yen to EV tech by 2030.

Japanese auto giant Honda said Thursday it will double investment in its electric vehicle strategy to $65 billion by 2030.

A Honda logo is seen at the New York International Auto Show Press Preview, in Manhattan, New York City. (Reuters)

"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.