Honda Squeezes Its Suppliers to Fight Off Cheaper Chinese Rivals Honda Motor Co. , Ltd. 's announcement that it aims to cut over $9 billion in costs by 2030 has sent shockwaves through the automotive industry.
The move is a response to the growing threat posed by Chinese rivals like BYD, which have been rapidly gaining market share through advanced software and lower prices.
The strategy focuses on specific supply chain costs rather than across the board cuts.