Honda CANCELS new EV – reveals INSANE car strategy for 2030
Honda just cancelled their new electric SUV and I thought to myself, you know, okay, not too bad. You got six other electric models coming. Then I saw Honda’s EV strategy or car strategy for the next approximately 10 years. And honestly, it’s diabolical. It’s crazy. Here are the details. Hello, my friends. Great to have you with us. I’m Sam Evans. Come along to the Indonesian EV Conference. It’s going to be great. It’s going to be some major Chinese executives that going to share some interesting stuff about China and the EV race. And I’ll be talking there as well. So, I’ll put a link in the description below. In May, Honda announced it had reduced its investment in electrification from 69 billion down to 48 billion. And that was before Donald Trump actually cancelled basically the EV tax breaks $75,000 US off EVs in the US which is now within a few months time it will be gone completely. Why are Honda doing this? Well, for one, right now Honda don’t really even make an EVs particularly I mean in the United States or in China either. They get them from other companies. In the US, Honda’s EVs are actually made by General Motors. In China, they’re made by their joint venture partner in the country. So, here’s Honda strategy, right? Between 2027 and 2031. By the way, they’ve just canled their large electric SUV, uh, which they’ve already worked on, but they’ve just canceled it, and that was meant to come out in 2027. Now, between 2027 and 2031, Honda will introduce 13 hybrids worldwide. 13 hybrids, right? So, in 2031, they’re going to be introducing these uh what they’re calling new generation hybrids. They’re targeting 2.2 million hybrid sales by 2030. In other words, Honda are basically saying the majority of their car sales will be either internal combustion and hybrid in 2030, 5 years from now. Yeah, I mean most analysts are predicting that more than 50%, probably around 60% of global car sales in 2030, I think it’ll be higher than this, but let’s be, you know, let’s just be really conservative, at least 50% will be fully electric worldwide in 2030. Yeah, we’re already well over 25%. And in China, we’re already we’re already hitting that point. We’re in the 50%. By 2030, we’re going to have so many good electric car models for sale. The prices continue to go down. The range continues to go up. The charging speed continues to rise. And we’ve well and truly smashed past tipping points. So, it’s inevitable, right? But Honda is saying, “No, no, no, no, no. Even in 2030, people be want to be they’re going to be wanting to buy hybrids, not electric cars.” So, 2.2 million hybrid sales in 2030. Do you guys think that’s realistic? I think that’s absolutely mind-blowingly crazy. It’s like saying, “Yeah, don’t worry. Everyone’s going to still want a Nokia phone with buttons all over it or a Blackberry phone in 2030. No one’s going to really want a smartphone.” I mean, people aren’t used to them yet, but this is 5 years from now. 5 years. Battery energy density continues to go up. Yeah. I mean, 2030, we’re going to be seeing EVs with 1,000 km of range or 600 miles of range. That’ll be very common. Anyway, this lineup will include a new large SUV designed specifically for the North American market, which could effectively replace basically they cancelled the electric version. They’re going to turn it into a hybrid. Here’s the thing. Honda’s EV sales, the Honda Prologue in the US, sales increased by 963%. Compared to the same period in 2024, 963%. That said, it’s still a relatively niche model for Honda. In the US, they sold 16,000. So, it’s actually the lowest selling model in Honda’s US portfolio, but it’s not particularly cheap either. I mean, in China, you can buy a better car. For example, what’s similar to a Honda Prolock? Okay, the new Xping G7, right? The G7 similar size. The G7 has way more interior space. actually has better features, better tech, more range, um better charging speed, 500 kW charging. It’s a better car. It’s 28,000, 27,000 actually, and the prologue’s closer to 50,000. So, you could really see why uh a lot of these electric cars, China is selling so incredibly well, and in the US, they’re, you know, selling okay, but they are kind of struggling to increase sales. But here’s the thing. Here’s the big difference, right? In the US, it’s still common for the EV version of a car to be much more expensive. Not always, but often it is. But in China, it’s actually common, in fact, more common, for the EV version of a car to be cheaper than the internal combustion version. Honda isn’t the only automaker to delay its electric car plans. Nissen has canled two EVs originally planned to be produced in the US. Ford has paused development of its large EVs. Toyota has postponed production of a larger electric SUV from 2026 to 2028. Uh Toyota has basically canled that production of that car. So legacy automakers all around the world are pausing or cancelling production of new EVs pretending that in 2030 buyers will want an inferior hybrid or even internal combustion case or or even an internal combustion car as in the case of say Toyota and their plans. But it’s really bizarre to me. It’s like they’re acting as though what buyers are buying today will be relevant in 5 years time. 5 years is a very long time. And the automotive industry is changing so fast. This is just like saying to BYD, to Xbank, to Chinese car companies, right, to Xiaomi, it’s like saying to them, guys, um, we know you’re disrupting us, but actually, can you do it some more? Can you whip us a little harder? Can you take more of our market share? Because we’re just going to put everything on hold because we want to make money, as much money as we possibly can for the next three years. After that, to hell with it. If we go bankrupt, it doesn’t matter. I’m not going to be around by then. Well, maybe the CEOs are thinking they’re going to retire by 2030 and someone else can deal with the mess. What are your thoughts? Let me know in the comments. The new Honda Prologue, guys, this is the new version. Just came out in March of this year. has more power and torque, has a little bit of extra range. It’s uh it’s actually got some big discounts. And considering this is the brand new model, I’m I’m a bit surprised to see this. Range on the cheapest version of this vehicle is around 300 mi, so approximately 500 km. It comes with an 85 kWh battery and some pretty good standard levels of specification. I like to think of the Honda Prologue as the GM Prologue because it’s actually really a General Motors car. But anyway, it’s actually a really nice car. And if you’re thinking about buying one of these, you can get 0.99% financing, which considering inflation is well above 1%. Basically financing where you make money. Crazy. And you can get also a $16,500 discount if you find the right one at the right dealer. So, what are the details? Well, here they are. Hello, my friends. Welcome to the channel. I’m Sam Evans. You’re watching the Electric Viking. Great to have you with us. If you want to become a YouTube member, you can get access to some of our videos that are not on the main channel, including my recent interview, the full interview with Sandy Monroe. Thinking about driving a 2025 Honda prologue EV? Well, yeah, it’s a pretty good deal right now. As of May 23, the 23rd of May, I should say, there is an additional $2,000 in lease finance cash. I mean, I’m not going to get to lease stuff first cuz I know you guys in the United States, you often lease cars very commonly. That stacks on top of some other savings. Honda was already offering $35,000 in lease finance cash across the US, plus another 1,000 what they call lease finance loyalty conquest money, plus that other discount I mentioned at the start. three different lease discounts. Very confusing, but anyway. Plus, the prologue actually is eligible for the $700,000 EV lease credit. In total, you’re going to get um a massive discount. Putting all that together, what that means is that um Prologue is actually really good value and I think it might be cheaper than an equivalent internal combustion version of say a car this size. [Music]
Honda CANCELS new EV – reveals INSANE car strategy for 2030
Honda has cancelled plans for a new large EV SUV initially set for a 2027 release, cutting its EV investment from $69 billion to $48 billion through 2030. Instead, it’s pivoting toward hybrid powertrains, launching 13 new HEVs starting in 2027 and targeting 2.2 million hybrid sales by 2030. Honda will still release its flagship electric sedan and midsize SUV next year and remains on track for 100% zero-emission sales by 2040, but now expects EVs to account for less than 30% of its lineup by 2030.
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Honda Prologue EV Slashed by $16,500: Best EV Deal of 2025?
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