AP reports the longstanding automaker – established in 1948 by Soichiro Honda – conceded the dire losses related to its EV operations are estimated to total 2.5 trillion yen ($16 billion), incurred mostly in the fiscal year just ended and the current fiscal year.
Well, in their defense: They NEVER would have made such huge investments in EVs if the government weren't coercing them to do so. California -- the largest US market -- was (still is) planning to outlaw the sale of new INTERNAL COMBUSTION VEHICLES in 2035. (Note: The FedGov has blocked CA's EV mandate, although Brave AI still speaks about it as if CA is still planning to impose it . . .)
California is planning to effectively outlaw the sale of new internal combustion engine (ICE) vehicles by 2035, as part of a broader effort to combat climate change and reduce transportation emissions. The rule, finalized by the California Air Resources Board (CARB), mandates that 100% of new passenger cars, SUVs, and light trucks sold in the state must be zero-emission vehicles (ZEVs) by 2035, including battery-electric, hydrogen fuel cell, or plug-in hybrid models with minimum electric range requirements.
The phaseout includes interim targets: 35% of new vehicle sales must be ZEVs by 2026 and 68% by 2030.
The policy does not ban the use or resale of used gas-powered vehicles after 2035.
Automakers may sell up to 20% plug-in hybrids with gas engines by 2035, provided they meet ZEV criteria.
The rule applies to sales, not production, so manufacturing of ICE vehicles for out-of-state or international markets can continue.
Governor Gavin Newsom first announced the 2035 goal in September 2020 via executive order, and CARB finalized the regulation in August 2022.
States that follow California’s ZEV standards: As of recent updates, 17 states and Washington, D.C. have adopted California’s vehicle emissions standards under Section 177 of the Clean Air Act. These include Colorado, Connecticut, Maine, Maryland, Massachusetts, New Jersey, New York, Oregon, Rhode Island, Vermont, Washington, and others.
Adoption of the 2035 rule: While many of these states are expected to follow California’s lead, adoption of the 2035 ZEV mandate is not automatic. States like Washington, Massachusetts, New York, and Oregon have indicated plans to adopt similar rules. However, others, such as Colorado and Pennsylvania, have signaled they may not follow the full 2035 phaseout.
Market impact: If all 177 states {IBID !!!} adopt the rule, it would affect over 40% of new vehicle sales in the U.S., creating a large unified market for electric vehicles and influencing automakers’ national production strategies.
This is unrelated, but when I visited Japan I did not see one Honda in my three weeks there. Seemed all cars were either Toyotas or Japanese brands I’ve never even heard of before.
Every taxi I took was a Toyota. And a lot were very old cars, but perfectly maintained, was incredible to see.
AP reports the longstanding automaker – established in 1948 by Soichiro Honda – conceded the dire losses related to its EV operations are estimated to total 2.5 trillion yen ($16 billion), incurred mostly in the fiscal year just ended and the current fiscal year.
The Tesla eco system cannot be copied.
These greedy companies thought they could simply take the cake 🍰
Very dumb indeed
Well, in their defense: They NEVER would have made such huge investments in EVs if the government weren't coercing them to do so. California -- the largest US market -- was (still is) planning to outlaw the sale of new INTERNAL COMBUSTION VEHICLES in 2035. (Note: The FedGov has blocked CA's EV mandate, although Brave AI still speaks about it as if CA is still planning to impose it . . .)
Also:
"Costly EV fiasco". Oh well.
Their self-destructing CVT transmissions tarnished their brand before the current EV fiasco.
Honda has been going downhill since the 90s ...
It's a shame because their older stuff really set the bar high... and now they can't reach it anymore.
There's a long history of Honda lemons you hardly ever hear about... Do they even offer a manual transmission in ANYTHING besides on 2 wheels anymore?
This is unrelated, but when I visited Japan I did not see one Honda in my three weeks there. Seemed all cars were either Toyotas or Japanese brands I’ve never even heard of before.
Every taxi I took was a Toyota. And a lot were very old cars, but perfectly maintained, was incredible to see.
Batteries are their downfall 😭
Hydrogen powered engines will be in their future.