and Honda announced plans to expand their relationship"to a new chapter" by jointly developing a series of affordable electric vehicles.
But things have changed in the last year and the two companies said on Oct. 25 that they are scrapping the plan, according to"After conducting some research and analyses, both parties decided to end the development," Honda said in a statement."Each company will continue to work towards offering affordable models to the EV market.
"These steps include moderating the pace of our EV acceleration in 2024 and 2025 to maintain strong pricing," she during a conference call with analysts, according to“As we get further into the transformation to EV, it's a bit bumpy, which is not unexpected, Barra said."And I believe our portfolio that we have that looks at the most important segments, and make sure that we have the right entries.