Business · 46 minutes ago

Honda pushes suppliers for drastic cost cuts to save £7.4 billion by 2030

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%.

By BriefTea Editorial · 2 September 2026 at 11:22

Reported by CNBC · How we write briefs

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