Honda seeks 2030 supplier cost cuts to match EV affordability
Honda is pressing suppliers for drastic cost reductions to close the affordability gap with Chinese electric-vehicle makers, targeting more than 1.5 trillion yen ($9.4 billion) in savings by 2030.
Honda Motor is pressing suppliers for steep cost cuts as it tries to narrow the affordability gap with Chinese electric-vehicle makers, targeting more than 1.5 trillion yen ($9.4 billion) in savings by 2030. The plan could materially improve margins if successful, but the scale of the effort was not fully detailed in the source section.