11/29/2023, 9:15 AM (Source: TeleTrader)
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Honda to invest over $3B in motorcycle electrification

Honda Motor Co., Ltd. announced on Wednesday it will invest about ¥500 billion, or approximately $3.4 billion, over ten years before the end of 2030 in the electrification of its motorcycle business.

In stages, Honda will invest ¥100 billion, or about $679 million, in the five years between 2021 and 2025 and ¥400 billion, or some $2.7 billion, in the same timeframe between 2026 and 2030. The company added it revised its target for annual sales of electric motorcycles up to four million vehicles by 2030. Its plan is also to introduce 30 electric motorcycles by the same year.

"Honda will strive to achieve targets for 2030 operating profit margin of more than 5% for electric motorcycle business and more than 10% for the entire motorcycle business," the company's written statement concluded.

Baha Breaking News (BBN) / JR