Honda EV car crash – first loss EVER!!
Honda joins other leading global car makers by losing out to Chinese EV car makers
From here (h/t 🔔 The Liberty Daily - The Conservative Alternative to the Drudge Report)
Honda’s Electric Vehicle Gamble Blows Up As Company Suffers First Loss In Nearly 70 Years [WATCH]
“A massive bet on electric vehicles that has now gone completely sideways.
The company’s costly pivot toward battery power has backfired to the tune of $9 billion in restructuring costs, a blow tied directly to fading electric vehicle demand and policy shifts from President Donald Trump’s America First economic agenda.”
“In a statement this week, Honda admitted the obvious.
“EV demand has declined considerably, due to the rollback of environmental regulations in the U.S. and other factors,” the company said.
That’s corporate-speak for investors losing their shirts on green car fantasies that never quite materialized.
CEO Toshihiro Mibe told investors that Honda will scrap its lofty target of making electric vehicle sales account for 20 percent of profits by 2030.”
I suspect that Honda is not only losing out because of the “rollback of environmental regulations in the U.S. and other factors, but mainly because of the emergence of cheap – subsidized Chinese EVs.
Here’s ten year track of Honda’s profits from Brave AI:
I wonder if Honda will be allowed to purchase a Chinese car maker – or a Chinese car maker will be allowed to buy Honda!
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