To crack the code of building low-cost electric vehicles, Japan's automakers intend to leverage their skills at tried-and-true lean manufacturing and kaizen.
Honda blamed delays in receiving parts and logistics due to COVID-19 and semiconductor shortages for the reduced output at two domestic plants.
Japan's automakers are stoking R&D investment to meet mounting demand for a staggering array of technologies. Toyota by far outpaces the pack.
Automakers such as Honda have been forced to slash production due a shortage of microchips and now face an increase in costs amid China's COVID-19 curbs and the war in Ukraine.