Honda's shift in strategy has sent shockwaves through the automotive industry. Despite previously aiming to electrify 70% of its global sales by 2030, the Japanese giant has now doubled down on hybrid technology, abandoning its ambitious electric vehicle (EV) target. This move comes as the company posts its first-ever annual loss, a staggering $3.7 billion, due to a perfect storm of supply chain disruptions, rising raw material costs, and a global economic downturn. As the industry continues to grapple with the challenges of electrification, Honda's decision to prioritize hybrids over EVs raises questions about the future of sustainable mobility and the company's commitment to reducing its carbon footprint.
Honda doubles down on hybrids after abandoning EV target and posting huge first loss The Driven
