Honda shifts to hybrids amid massive EV losses

Honda is pivoting back to hybrid vehicles, announcing plans to launch 15 new hybrid models by 2030, primarily for the North American market. This strategic shift follows a significant financial setback, with the automaker absorbing over $9 billion in write-downs and reporting its first operating loss in over 70 years. The decision comes as US electric vehicle sales have dropped significantly due to changes in federal incentives and infrastructure funding. Honda aims to improve fuel efficiency by 10 percent and reduce costs by 30 percent with its new hybrid system, while also retooling US factories for hybrid production.