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Car Giant Puts the Brakes on EVs

  • Honda has halted the development of a large electric SUV due to weaker-than-expected demand for sizable electric cars and will focus on hybrid models instead.
  • Honda has cut its electric vehicle budget from ¥10 trillion to ¥7 trillion due to lower-than-expected demand and influenced by President Trump's decision to cut the $7500 federal tax credit for EV customers.
  • Honda plans to launch 13 new hybrid models by 2027, having abandoned its goal of making EVs 30% of its global sales by 2030.
  • Other automakers like Ford and Toyota USA are also scaling back their electric SUV plans in response to similar market pressures.
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Honda has only announced its electric models (series 0) for the coming years, only to make the first withdrawal a few months later. Now one hears from Japan that the large electric SUV from Honda should not come, at least not in the next years. It has been canceled. Honda doubts about the decisive market for this model and that is the USA. The declining demand would probably not be able to justify a large electric SUV. Now one focuses more on hy…

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The Driven broke the news in on Tuesday, July 8, 2025.
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