TechNews

This is the best summary I could come up with:

“After studying this for a year, we decided that this would be difficult as a business, so at the moment, we are ending development of an affordable EV,” Honda CEO Toshihiro Mibe said in the interview with Bloomberg, which was the first to report the news.

“Last year, we began working on an affordable EV program for global markets, which was slated for introduction in 2027,” GM spokesperson Sanaz Marbley said in an email.

Honda is also an investor in Cruise, the driverless car operator that is a wholly owned subsidiary of GM.

And GM and Honda co-designed the Cruise Origin, a purpose-built autonomous shuttle that is set to make its debut in the US next year — and Japan in 2026.

Tesla’s price cuts, shrinking profit margins, and softening demand has kicked up a hornet’s nest of anxiety about the massive shift to electric vehicles that’s currently underway.

And that anxiety is being reflected in a number of the big player’s moves, including GM’s recent announcements about longer wait times for its upcoming slate of electric trucks and Ford’s move to temporarily cut one of three shifts at the factory that builds the electric F-150 Lightning.

The original article contains 496 words, the summary contains 195 words. Saved 61%. I'm a bot and I'm open source!