06:54 AM EST, 11/21/2024 (MT Newswires) -- Honda Motor ( HMC ) is looking to double the driving range of its electric cars by the late 2020s when they start to mass produce all-solid-state batteries, media outlets reported Wednesday.

All-solid-state batteries are expected to produce twice the driving range by the end of 2030 and over 2.5 times more by the 2040s, Honda R&D head Keiji Otsu was reported telling the press at Honda's ( HMC ) pilot all-solid-state battery production line in Tochigi, northern Japan.

The pilot line is worth an investment of 43 billion yen ($278.5 million), nearly half of which is funded with Japanese government subsidies, reports said. Production on the new line will reportedly start in January.

The carmaker's plans include targets to reduce battery size by 50%, weight by 35% and cost by 25% from current levels in the next five years, according to reports. It is also looking to have 40% of its global sales to be EVs and fuel cell vehicles by 2030, and as much as 100% by 2040, reports said.