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energy from fossil fuels, and thus pollute the air you breathe and cause climate change with every stroke of their outdated, inefficient engines.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.
To reduce your carbon footprint and live more sustainably, consider going solar. EnergySage is a free service that connects you with trusted, reputable installers in your area – without having to give up your phone number until you select an installer. Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way through EnergySage. Get started today! – ad*
FTC: We use income earning auto affiliate links. More.
The US solar industry just raised the alarm over the GOP’s “One, Big, Beautiful Bill,” warning it could kneecap America’s energy future and trigger a massive power shortage in its current form.
The Solar Energy Industries Association (SEIA) is warning that legislation recently passed by the House Ways and Means Committee could shut down or prevent nearly 300 solar and battery storage factories from opening. If this bill becomes law without changes, the US could lose enough solar generation by 2030 to power the state of Pennsylvania for a year. That’s 145,000 gigawatt-hours of clean electricity that could vanish.
The SEIA analysis paints a grim picture: Nearly 300,000 US jobs are at risk, including 86,000 in solar manufacturing alone. And here’s the twist, as I’ve pointed out before – about 80% of the jobs and factories at risk are in red states that voted for Trump.
“There is still time to improve this bill, which, as written, represents a crisis for America’s ability to build the energy infrastructure we need to meet surging demand,” said SEIA president and CEO Abigail Ross Hopper.
The SEIA says the legislation would slam the brakes on solar and storage investments just as energy demand is soaring, thanks partly to the explosion in AI and data centers. SEIA estimates the bill could wipe out $220 billion in potential investments by 2030.
The House bill also repeals the Section 25D residential solar tax credit, which has been a critical driver of solar adoption for middle-class families. Without it, installing solar gets way more expensive – and out of reach for many households.
As Electrek reported last week, solar and wind accounted for almost 98% of new US electrical generating capacity added in Q1 2025, according to new Federal Energy Regulatory Commission (FERC) data.
Solar and wind also made up an impressive 100% of new capacity in March, and March was the 19th consecutive month in which solar was the largest source of new capacity.
The US needs to add 206.5 gigawatts of new energy capacity by 2030. Solar is expected to deliver nearly three-quarters of that. If the bill guts solar incentives, we’re looking at higher electricity bills and slower economic growth. SEIA says the rollback could drive up consumer energy costs by $51 billion.
Hopper didn’t mince words: “Passing this bill would create a catastrophic energy shortfall, cede AI and tech leadership to China, and damage some of the most vital sectors of the US economy.”
She added that the Senate can still step in with a smarter proposal that aligns with Trump’s push for US energy dominance.
SEIA’s message to lawmakers? Fix the bill or energy production will plummet, blackouts will become more frequent, and the US will face a devastating – and completely avoidable – energy shortage.
Read more: The House draft budget kills the 30% residential solar tax credit
To limit power outages and make your home more resilient, consider going solar with a battery storage system. In order to find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*
FTC: We use income earning auto affiliate links. More.
![Lucid Gravity flexes its power at the Nürburgring alongside other upcoming EVs [Video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2025/05/Lucid-Gravity-Nurburgring.jpeg?resize=1200,628&quality=82&strip=all&ssl=1)
Lucid’s Gravity is a three-row electric SUV, but it’s faster than most sports cars. Boasting up to 828 hp, the luxury SUV can accelerate from 0 to 60 mph in less than 3.5 seconds. The Lucid Gravity was spotted ripping around the Nürburgring track in Germany, showing off its power and agility. Check it out in the videos below.
Lucid Gravity hits the Nürburgring for testing
As it ramps up production of its first electric SUV, Lucid is preparing for another big year of growth. Last week, Lucid’s interim CEO, Marc Winterhoff, told Bloomberg that the company would enter new parts of Europe and the Middle East this year.
Two Lucid Gravity test vehicles with European test plates were recently spotted testing at the Nürburgring, hinting that an official launch could be coming soon.
In a video from StateSideSuperCars posted last week, you can catch a glimpse of the Gravity (skip to 9:45) showing off its agility, handling, and control as it rips around the race track.
Another video, courtesy of EMS Sport TV, shows the Gravity test vehicle alongside several other current and upcoming EV models, including BMW’s Neue Klasse SUV, Mercedes CLA EV, and what appears to be the Kia EV4 sedan.
During the Gravity’s “Celestial Arrival” in March, Winterhoff said Gravity deliveries would resume by the end of April. Lucid delivered the first models in December 2024, but those were for family, friends, and employees.
The Lucid Gravity Grand Touring is available to order in the US. Prices start at $94,900 with up to 450 miles of range. Later this year, Lucid will launch the Gravity Touring model, starting at $79,900.
On Lucid’s website, the Gravity SUV is still unavailable to order in Germany, Switzerland, the Netherlands, or Norway.
The Lucid Gravity Grand Touring and Touring models are available in Saudi Arabia, starting at SAR 487,715 ($130,000) and SAR 416,645 ($111,000), respectively.
Another luxury electric SUV was recently spotted at the Nürburgring. The “ultra-luxe” Genesis GV90 was caught with less camo, giving us our best look at the upcoming flagship SUV.
Source: Lucidowners.com
FTC: We use income earning auto affiliate links. More.
Waffle House is about to become a go-to DC fast charging spot for EV drivers, thanks to a new partnership with bp pulse.
The EV charging arm of British oil giant bp just announced a “strategic relationship” with the American diner chain to bring DC fast charging to a network of Waffle House locations across the South and Southeast, including Texas, Georgia, and Florida.
Each site will get six DC fast charging bays with 400kW chargers featuring both CCS and NACS connectors. The first stations are expected to go live in 2026.
Now, if you’ve ever been on a road trip through the South, you already know Waffle House is always open. Like, always. The lights are on 24/7, even during hurricanes and major storms. There’s actually something called the “Waffle House Index” used by FEMA and emergency responders to gauge how bad a storm is. If the Waffle House is closed? It’s serious.
That makes these locations a pretty smart choice for DC fast chargers. In an evacuation scenario or on a road trip, it’s a reliable place to stop, fast charge your car, and grab a plate of smothered and covered hash browns.
“Adding an iconic landmark like Waffle House to our growing portfolio of EV charging sites is such an exciting opportunity,” said Sujay Sharma, CEO of bp pulse Americas. “We’re building a robust network of ultrafast chargers across the country.”
A bp pulse spokesperson told Electrek that the “first batch of 50 sites is already in the works.” And with Waffle House locations situated along major highways and well-traveled routes, this move could make a big difference in EV charging accessibility, especially in areas that need an EV infrastructure boost.
Read more: Rivian R1T gets dragged 100 feet after Hurricane Helene and still runs [Video]
If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*
FTC: We use income earning auto affiliate links. More.
-
Sports3 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports1 year agoStory injured on diving stop, exits Red Sox game
-
Sports2 years agoGame 1 of WS least-watched in recorded history
-
Sports2 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports4 years ago
Team Europe easily wins 4th straight Laver Cup
-
Environment2 years agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Environment2 years agoGame-changing Lectric XPedition launched as affordable electric cargo bike
-
Business3 years agoBank of England’s extraordinary response to government policy is almost unthinkable | Ed Conway