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Honda budgeted $6.84 bln for electric and autonomous cars this year

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Tinuku ~ Honda will focus on developing self-driving technology and electric vehicles up to 2030 in order to stay competitive against competitors. Japanese automaker Honda Motor Co. said for the first time to develop autonomous car that can go on the highway in 2025 to build future automotive market strategies.

Tinuku Honda budgeted $6.84 bln for electric and autonomous cars this year

Honda says its mid-term vision in 2030 will improve the coordination of research and development, purchasing, and manufacturing to manage finances in an effort to replace conventional cars with electric and self-driving vehicles.

"We will give top priority to the electrification and security technology for the sake of progress," said Honda CEO Takahiro Hachigo, Thursday, May 8, 2017.

Anyone capable of developing artificial intelligence-based electric vehicle technology is the solution to winning the future market and stopping dependence on petroleum.

Honda this year has also held a test for fuel cell car "Clarity Fuel Cell" which collaborated with several taxi companies. The trial aims to test the car's commercial for public transportation mode.

This is a top priority for Honda in the coming years, the company said. Honda has increased its R&D budget and allocated 750 billion yen (6.84 billion dollars) this year through March 2018.

Other manufacturers such as BMW have said it will launch a fully autonomous car by 2021, while Ford Motor Co. has said it will introduce vehicles of similar capabilities in the same year.

Nissan Motor Co. also plans to launch a car that can go on auto urban roads by 2020.

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