Honda abandons plans for large electric SUV
Honda has decided not to launch its large electric SUV that was planned for 2027 in the US, joining other carmakers in pulling back on expensive EV projects as demand dips.
The company is also trimming its EV investment through 2030, cutting it from ¥10 trillion ($68.6 billion) to ¥7 trillion ($48 billion).
Honda's electric vehicle plans
With fewer people buying full-electric cars, Honda is now betting big on hybrids.
Starting in 2027, they'll roll out 13 new hybrid models worldwide and aim to sell 2.2 million hybrids by 2030—a 120% increase from 2025 projections.
Still, their main electric sedan and midsize SUV from the "0 Series" are set for release next year.
Other automakers scaling back EV plans
Honda isn't alone here: Ford, Toyota, and Porsche have also slowed down on all-electric plans and are leaning more into hybrids.
High battery costs and shrinking government incentives mean more brands are sticking with gas engines for now while exploring options like synthetic fuels.