Citing massive losses and a cooling market, the Japanese auto giant is backing away from an all-electric future in a huge blow to the EV industry and a sign that the road to clean cars just got a lot bumpier.
Citing massive losses and a cooling market, the Japanese auto giant is backing away from an all-electric future in a huge blow to the EV industry and a sign that the road to clean cars just got a lot bumpier.
More of a diagnosis of the sickness of the US market and ability to adapt than anything. Obviously Honda doesn’t have a chance to compete with BYD and Geely(an ICE company that adapted quite well) outside of it with a $50k EV while they’re doing their price wars with razor thin margins. PHEV is the primary place they can leverage their ICE supply chain.