reuters.com

Honda Tells Suppliers to Cut Costs in $9.4B Plan to Compete With China

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Sig3.15Sen-1.00Env-0.38Soc-0.48Gov-0.03

Honda, after reporting its first annual loss as a public company, is pursuing a cost-cutting push to save 1.5 trillion yen by 2030. Documents reviewed by Reuters describe global supplier work to boost competitiveness, including standardized parts and company-specific targets. Managers also discussed increasing sourcing from Chinese suppliers, with some suppliers questioning whether the targets are achievable.

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