Japan's Honda Motor says it is spending 3.4 billion dollars in the decade through 2030 to build dedicated factories for electric motorcycles and batteries.

Honda announced on Wednesday that it has raised its global sales target for electric bikes to 4 million units a year by 2030. It had set a goal of 3.5 million under the previous plan.

The company aims to roll out about 30 models by 2030, up from at least 10 by 2025 announced previously.

A Honda official said the company will efficiently launch products that meet diverse global needs.

Kawasaki Motors has already announced plans to electrify most of the models it sells in industrialized economies by 2035.

Yamaha Motor says 90 percent of its bikes will be electric by 2050.