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    Honda will be investing 5 trillion yen over the next decade in the research of electric vehicles. The Japanese automaker said on Tuesday it realized the major shift to ecological electric vehicles. Just the products and services in the works will account for more than half of its 8 trillion yen research and development budget. 

    Efforts in North America will focus on the collaboration with General Motors Co. The two automakers are jointly developing two midsize to large EV models, set for sale in 2024. By 2027, Honda plans to offer an affordable electric vehicle that is competitive with gas-powered models.

    Many top automakers are speeding up their development in electric vehicles amid concerns about climate change. They’re also trying to employ new kinds of fuel, such as biofuel and hydrogen powered fuel cells.

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