Honda is cutting its electric vehicle and software investment by 30% due to a slowdown in market demand, now projecting that EV sales will only constitute 20% of total sales by 2030. The automaker had initially planned a $69 billion investment in EVs, which has now been downgraded to $48.4 billion. Simultaneously, Honda aims to expedite the launch of 13 new hybrid models over the next six years. The decision also affects its factory transformation plans in North America, raising concerns about the future of its EV strategy.
Honda has decided to slash its planned investment in electric vehicles by 30%, citing a slowdown in market demand for EVs.
CEO Toshihiro Mibe stated that EV sales are expected to fall below previously targeted percentages, projecting about 20% of sales by 2030.
Integration of hybrid models is emphasized as Honda readjusts to market conditions, planning to launch 13 new hybrid vehicles over the next six years.
Despite launching new electric models, Hondaâs reduced investment raises concerns over the feasibility of its ambitious EV plans.
Collection
[
|
...
]