Honda Motor aims to cut costs by as much as a fifth and halve development times under its new partnership in India with Tata Technologies , according to two people familiar with the matter, as pressure from rivals forces the Japanese automaker to rethink its go-it-alone approach.
Reeling from electric vehicle (EV)-related losses that it expects to reach more than $12 billion, Honda is pivoting to gasoline-electric hybrids and slashing expenses. Last month, Reuters reported that it is seeking to cut more than $9 billion in costs over the next four years and has told suppliers to drastically reduce prices.
