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Honda's EV Pivot Costs $10B, Hybrid Push Ahead
Description
Hondas first-ever loss, a $10 billion hit from EV investments, led to a $2.6 billion operating loss. Despite this, they project a $500 billion operating profit for the next fiscal year, surpassing Wall Streets estimates. Investors responded positively, boosting Hondas NY shares by 2%. Honda plans to launch 15 new hybrid models in the US by 2030, focusing on sedans, wagons, and SUVs, while abandoning their all-EV goal for carbon neutrality by 2050.
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