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Honda pivots to hybrids after EV setback | Durham News
Honda’s CEO Toshihiro Mibe has survived shareholder scrutiny and secured his seat on the board, despite the company posting its first annual loss in nearly 70 years — a staggering $9 billion in restructuring costs. Facing intense criticism, including a call for his resignation from a former CEO, Mibe admitted that sticking to Honda’s original aggressive EV push would have kept the company in the red for another seven years. Now, Honda is pivoting back to its hybrid strengths, launching 15 new hybrid models and targeting an $8.9 billion operating profit by 2029. The company has also scrapped…
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