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๐จ #HONDA SUFFERS FIRST LOSSES IN 70 YEARS DUE TO BET #FALLIDA ON ELECTRIC VEHICLES โก๐
The automaker #japonesa reported operational losses exceeding $2.680 BILLION after admitting that the demand for electric vehicles wasn't as strong as anticipated ๐
๐ป Honda now:
โ Will cut electric vehicle production targets
โ Will abandon electrification goals for 2040
โ Will suspend battery manufacturing plans in Canada
๐ Factors hitting the company:
๐ธ End of subsidies for electric cars in the U.S.
๐ธ Tariffs on imported vehicles and auto parts
๐ธ Growing competition from Chinese manufacturers
๐ธ Decreased global demand for EVs
๐ To cut costs, Honda will start sourcing parts from China and focus its business on:
๐๏ธ Motorcycles
๐ Hybrid vehicles
๐ณ Financial services
Analysts say many traditional automakers jumped into the electric vehicle game too quicklyโฆ and now they're paying the price โ ๏ธ
The automaker #japonesa reported operational losses exceeding $2.680 BILLION after admitting that the demand for electric vehicles wasn't as strong as anticipated ๐
๐ป Honda now:
โ Will cut electric vehicle production targets
โ Will abandon electrification goals for 2040
โ Will suspend battery manufacturing plans in Canada
๐ Factors hitting the company:
๐ธ End of subsidies for electric cars in the U.S.
๐ธ Tariffs on imported vehicles and auto parts
๐ธ Growing competition from Chinese manufacturers
๐ธ Decreased global demand for EVs
๐ To cut costs, Honda will start sourcing parts from China and focus its business on:
๐๏ธ Motorcycles
๐ Hybrid vehicles
๐ณ Financial services
Analysts say many traditional automakers jumped into the electric vehicle game too quicklyโฆ and now they're paying the price โ ๏ธ
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