Honda commits to going out of business by pulling back on EVs as sales rise
Honda said it will reduce its planned EV investments by $21 billion, claiming that it’s doing so due to a slowdown in EV sales which isn’t actually happening.
Instead, it will focus on hybrids, which get 100% of their energy from fossil fuels, and which cause climate change and poison the air you breathe.
Honda’s announcement came earlier today in Japan, stating that it will scrap its plan for EVs to be 30% of its global vehicle sales by 2030, citing a “slowdown in the expansion of the EV market due to several factors, including changes in environmental regulations.” It will reduce planned investment from 10 trillion yen ($69 billion) to 7 trillion ($48 billion).
However, as we have pointed out many times here at Electrek, EV sales have not fallen, cooled, slowed or slumped. In fact, last year, in 2024, EV sales grew more than they did in 2023. Meanwhile, global gas car sales hit their peak in 2017, and have been trending down since.
Honda didn’t precisely state its new timeline, but said that EVs would fall below the previously-announced target of 30% by 2030.
It instead said it would focus on hybrids, which get 100% of their energy from fossil fuels, and thus pollute the air you breathe and cause climate change with every stroke of their outdated, inefficient engines.
(*Note: Honda’s chart says “HEV,” not “PHEV” – it’s possible they’re including plug-ins here, and thus some of these vehicles will get some of their energy from something other than fossil fuels, but HEV typically means conventional hybrids which get all of their energy from gas)
Honda said that these gas-guzzling hybrids will “be introduced to market in 2027 onward,” which means they will continue driving on roads and polluting the Earth for decades, including after Honda’s 2050 carbon-neutrality target.
Honda’s previous plan for 30% by 2030 was already quite low compared to other global automakers, even after many of these companies have walked back their EV plans. Most of these other companies also cited the nonexistent slowdown in EV sales.
Honda said that its future hybrid models will “play a key role during the transition period toward the popularization of EVs.” In some of the world’s more profitable countries for auto sales, EVs are already at or nearing majority market share.
Electrek’s Take
It’s estimated that this year – not 2030 – 25% of cars sold globally will be EVs. So, any company that sells less than that is lagging behind the curve, losing ground to companies that are ready for the transition that is already happening. When you are behind, the way to catch up is to speed up, not to slow down.
This 25% EV sales projection shouldn’t be a surprise, because EV sales have been rising globally for many years now, and haven’t stopped doing so, as we keep having to point out. In fact, the opposite is happening.
Honda also mentioned changes in environmental regulations, stating that these regulations were “the premise for the widespread adoption of EVs.” In the same statement, it mentioned its “ambitious goal to ‘achieve carbon neutrality for all products and corporate activities’” – so I guess the mention of regulations as the actual premise means all that carbon neutrality stuff was just greenwashing, after all.
But as for regulations, currently, US regulations target ~50% market share for EVs by 2030, and California targets 68%. 30% is a far cry from either of these, so one would think that Honda should increase that number, not lower it.
Further, those regulations are likely not changing nearly enough to make up for Honda’s change in strategy here. Despite the protests of a former reality TV host and convicted felon (who is Constitutionally barred from holding office in the US, by the way), it is unlikely that already-filed regulations, which cover the period from 2027-2032, will be changed.
But the US isn’t the world – maybe Honda was talking about other major markets?
Well, Europe isn’t changing its regulations, either – the bloc recently said it will give automakers “breathing room”, allowing them to use the average of their emissions from 2025-2027 to comply with new emissions regulations, but this will still require a steeper ramp-up by the end of that period if automakers are not in compliance today. In other words, those regulations have not been softened on a 2030 timeline, only on a 2025 one.
And in China, well, new regulations went into effect a couple years ago, but they almost didn’t need to, because ICE cars are virtually unsellable there these days. EV adoption is rising incredibly rapidly in China, driven by local brands which Chinese customers trust more, and which have more nifty features than the models global automakers are offering there.
In fact, Honda’s profit is slipping precisely because of the rapid advancement of the Chinese auto market. AP reports that Honda’s Q1 profits slipped by 24.5%, driven largely by sliding sales in China in the face of local EV competition. How’s that for “slowing demand.”
Honda does sell one EV in the US market, the Prologue, which is selling like gangbusters. It’s the fifth-best-selling EV in the country, and was a large part of what drove US EV sales into growth in April. It’s also Honda’s fastest-growing model – though, to be fair, that does count from a very low baseline, as the model was only trickling out onto the market a year ago.
So, there seems to be no real justification for Honda’s change in strategy here. Unless they seem to enjoy that China is now beating Japan in terms of auto exports, and are excited to see Japan lose 14% of GDP and millions of jobs by stalling on EVs.
I guess if you want to go out of business and bring your country and the planet down with you, this is the way to do it.
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Environment
Review: I tested the Viribus SC5 fat tire electric trike, and it’s more capable than I expected
When I first saw the Viribus SC5 electric trike, I figured it would be a budget-friendly utility trike with basic features and limited performance. I’ve tried a Viribus e-trike before, and while it got the job done, it was a fairly basic and entry level model. But this time, I was pleasantly surprised to find that the SC5 delivers more than just the basics.
I’ve been testing it now for various errands, grocery runs, and casual rides around the neighborhood. After logging some decent miles on it, here’s what I’ve learned about this three-wheeled e-bike, and why I think it’s a strong contender in the growing world of electric trikes.
Viribus SC5 Electric Trike video review
Want to see what it’s like to hop on the SC5 and go for a ride? Watch my video review below! Or keep reading for my complete review.
Viribus SC5 Electric Trike tech specs
- Motor: 500W front geared hub motor (750 W peak)
- Top speed: 20 mph (32 km/h) on throttle or 24 mph (38 km/h) on pedal assist
- Pedal-assist range: Up to 65 miles (104 km)
- Throttle range: 38 mi (61 km)
- Battery: 48V 15Ah (720 Wh)
- Max load: 395 lb (180 kg)
- Rear rack max load: 110 lb (50 kg)
- Brakes: Mechanical disc brakes with 160 mm rotors
- Price: $1,299
- Extras: LED display, 7-speed Shimano shifter, big rear basket with tail gate and side panels for flatbed-style carrying, plush comfort seat with backrest, LED headlight and tail light, electric horn, right-side half-twist throttle, and three color options
Power that holds up in the real world
Let’s start with the motor. The SC5 uses a 500W front hub motor (750W peak), and while that’s not mind-blowing power on paper, it actually feels pretty solid out on the road. I was able to cruise comfortably at 20 mph using the throttle, and even got up to 24 mph with light pedaling assist.
A front hub motor is less elegant than a rear motor mounted in a jackshaft style to drive the rear axle, since it can mean that too much torque causes front wheel slippage, but the SC5 seems to have found a good solution in modest torque that prevents the wheel from spinning under normal operation. If you’re going full-throttle in wet leaves or other loose terrain though, you can bet that you’ll get a bit of front tire burnout, so be aware of that.
The modest 500W motor also means that the trike is not a rocket ship, but it doesn’t need to be. I found the acceleration to be smooth and predictable – exactly what you want from a utility-focused trike. The half-twist throttle is removable, but I left it on during testing because let’s be honest, it’s nice to have that instant go-power when you’re loaded down with cargo.
I don’t have many hills to test it on in flat Florida, so I can’t say for sure how well it climbs up anything super steep, but that front mounting location for the motor isn’t going to do it any favors on steeper hills where you have less weight (and thus less traction) on the front tire.
Big battery, decent range
The 48V 15Ah battery (720Wh) is mounted in the downtube for better weight balance and is rated for over 38 miles of range on throttle, which is true if you’re going somewhat slower. If you’re blasting around at 20 mph all the time, you’re not going to get 38 miles of range. But even if you’re snagging the mid to high 20s of miles, that’s still plenty of range for a day of errands or a few days of casual riding without recharging. Few people are commuting long distances on e-trikes; they’re more common for leisurely riding, and 20 miles is a lot of leisurely riding.
And just remember, higher ranges are absolutely possible at slower speeds, and trikes love slower speeds anyway to remain stable in turns, which brings me to the next section.
Surprisingly comfortable ride
Stability and comfort are both important for trikes, and one of the big selling points of a trike is that it offers better stability at low speeds since you don’t need to balance or put your feet down. You do need to be careful turning at high speeds though, since sharp turns at high speed can make trikes tippier.
I tend to ride with my seat lower on a trike than on a bicycle since the lower center of gravity makes them less tippy, but obviously you don’t want to go too low or it will give you issues trying to pedal. If you’re not pedaling though, feel free to treat it like a low-rider and drop that seat way down.
Comfort is one of the biggest selling points of any electric trike, and this one really leans into that. The seat is wide and cushy, with a supportive backrest that makes longer rides feel relaxing instead of rigid. The front suspension fork isn’t the most advanced suspension I’ve seen, but it does help smooth out bumps when you’re cruising over uneven pavement or sidewalk transitions.
And the fat 20×3” tires do a lot of the heavy lifting when it comes to absorbing road chatter. I rode over grass, gravel, and cracked city streets, and the trike handled them all better than expected.
Built to haul
One of my favorite parts of riding the SC5 was using it like a mini cargo hauler. I loaded up the rear basket with groceries, bags of gear, and even a couple of super-heavy portable power station batteries, and I had no problems. The rated payload capacity is 395 pounds (rider plus cargo), and it felt stable even when I was near the limit. The rear basket’s weight limit is 110 pounds, which I absolutely exceeded, and it did just fine.
I also really like that the basket has those two wings that go out over the wheels and give you a sort of flat bed-style support for carrying larger objects. I’m not saying you should move a washing machine on the trike, but at least you have the option of doing it thanks to that cool flat bed setup of the basket.
Oh, and there’s even a tailgate to the basket too, which is just another cool feature to see included. That’s very rare on trikes, but it means you don’t have to lift as high to load something heavy back there.
Final thoughts
The Viribus SC5 isn’t trying to compete with high-end cargo trikes or performance e-bikes. It knows what it is: a solid, approachable, and surprisingly capable electric tricycle for everyday riders. I’d say it does that job quite well.
It has the power most people need, the range to make errands easy, and the cargo capacity to replace a lot of local car trips. Is it perfect? No. It’s a bit bulky to store, and like any trike, it takes a little finesse in tight turns. The mechanical disc brakes are more maintenance-prone than hydraulics, especially on a heavy trike that is going to stretch those cables over time. It also has a sub-ideal motor layout and lacks some of the more refined features on higher-dollar e-trikes. But for $1,299, it delivers a ton of value!
If you’ve been on the fence about trying an electric trike, the SC5 is a fantastic entry point. It’s stable, comfortable, practical, and fun to ride. And if your goal is to get out of the car and into something more eco-friendly (without giving up utility), this might be your fully-accessible ticket.
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With just a few days left until its official debut, Hyundai offered a sneak peek at its first compact IONIQ EV, the Concept THREE. The radical-looking new EV will launch as the Hyundai IONIQ 3.
Hyundai teases new EV concept with a radical design
Rumors of a new entry-level Hyundai have been spreading like wildfire over the past few months. After a few prototypes were spotted out in public testing, some claimed it was the IONIQ 2, while other outletrs said it was actually the IONIQ 2.
It’s official. Hyundai confirmed the new EV’s name for the first time on Tuesday, the Concept THREE. We’re also getting a better look at what to expect with another teaser image.
Although it’s just a sketch, you can see the new EV has an almost sports car-like design. The new style is based on Hyundai’s Art of Steel design language. According to Hyundai, its new look is “inspired by the way steel bends and flows.”
According to Hyundai, the Aero Hatch side profile is “a new a new typology that reimagines the compact EV silhouette.
The sketch comes after Hyundai released the first official images of the new EV concept just last week. Again, it’s just a teaser, but you can see a few new design elements. For one, the rear spoiler appears to be about the same shape and size as the updated IONIQ 6, which is likely to feature a full-length LED light bar.
Like its other IONIQ models and the Kia EV series, Hyundai’s new concept is likely to be based on its advanced E-GMP platform.
It’s expected to fill the gap between the Inster EV and Kona Electric in Hyundai’s electric car lineup. The company said the new Concept THREE EV reaffirms its commitment to the European market and its leadership in sustainable transportation.
The interior is expected to be a step up from Hyundai’s current vehicles with a new infotainment system. Powered by its advanced new Pleos OS, the system will feel more like a smartphone.
Hyundai has yet to announce prices, range, and other final specs. However, since the Kona Electric starts at £34,995 ($47,000) in the UK, it will likely be priced closer to £25,000 ($33,700), like the Kia EV2.
Similar to the Kia EV3, Hyundai’s new electric car will likely be offered with 58.3 kWh and 81.4 kWh battery packs. The former provides a WLTP range of 260 miles, while the latter is rated with a range of 365 miles on a single charge.
The new Hyundai EV will make its global debut at the Munich Motor Show in Germany, from September 9 through September 14.
Kia’s EV3 is already the most popular retail electric vehicle in the UK through the first half of 2025. Will Hyundai match it with the new model?
Hyundai will offer an in depth look at the Concept THREE during a press conference at the IAA Open Space, explaining how it will shake up the compact EV segment. Check back for all the details. We’ll keep you updated with the latest.
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