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Dive Brief:
Honda Motor Co. is reallocating its development and production resources to launch new hybrid-electric vehicles in key global markets after posting massive EV losses of roughly $10 billion in the fiscal year ending March 31, the automaker announced in a business briefing.
Over the next three years, Honda said it will invest 4.4 trillion yen ($27.8 billion) in new gasoline and hybrid vehicles and another 1 trillion yen in software technologies as it pivots from EVs towards more profitable vehicles.
The automaker plans to launch 15 new hybrid models featuring an all-new hybrid system and platform through March 31, 2030, primarily in North America. The new hybrid models also include D-segment vehicles for the first time, such as fullsize SUVs.
