The investment plan for electric cars – which stretches to the spring of 2031 – is reduced to 7,000 billion yen (approximately 470 billion kronor) by Honda Motor. It is 30 percent than the plan on investments of 10,000 billion yen presented by the car manufacturer last year.
Honda is simultaneously adjusting the sales prognosis up to 2030 to 2.2 million hybrid cars that run on gas and electricity – an increase of 200,000 compared to the previous prognosis. The prognosis for pure electric cars is expected to remain at 700,000-750,000 during the period, according to Honda's CEO Toshihiro Mibe.
The reduced targets and plans for electric cars come since Honda warned last week that this year's profit will be burdened by a blow of 3 billion dollars (approximately 29 billion kronor) due to the Trump administration's tariffs on cars and car parts.
Weakened demand for electric cars in North America has recently also led Honda to postpone an investment in factories for batteries and electric cars in Ontario, Canada, for two years.
