FOCUS: Honda Motor faces long road back to growth after EV strategy overhaul
5 Articles
5 Articles
Honda is one of the manufacturers who were there very early (with the Honda E), then fell into deep sleep and now no longer have a clear strategy for electric cars. Now there is even the change back to hybrid. Numerous electric car projects have now either been cancelled or strongly postponed. First, the joint project with Sony has been stamped out, now massive money is shifted to the further development and production of classic gasoline and hy…
This decline is not just a failure for Honda; it also reflects a reversal in the global electric vehicle race, as many traditional automakers begin to pay the price for their overly ambitious investments in the electric vehicle dream.
Honda believes the company is unable to offer electric cars with better value for money than new players in China. This situation ultimately impacts
Honda takes $9 billion EV hit, scraps long-term electric goals
TOKYO, Japan: Honda Motor reported its first annual loss since listing on the stock market in 1957 after taking more than US$9 billion in charges tied to restructuring its electric vehicle business. The Japanese automaker also abandoned major long-term electric vehicle targets and suspended a planned $11 billion EV and battery project in Canada. Honda
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