Business · 2 September 2026
Honda pushes suppliers for drastic cost cuts to save £7.4 billion by 2030
W.carter via Wikimedia Commons (Creative Commons CC0 License)
Honda is aiming to save about £7.4 billion ($9.4 billion) by 2030, telling its major suppliers to significantly reduce prices. Honda's strategy is a response to intense competition from Chinese EV makers like BYD, which offer lower prices and advanced tech. Honda also wants suppliers to use more standardised and Chinese-made components, cutting costs in key parts by 30%.
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