Honda Makes a Major Move to Take On Tesla, Ford

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The Street

By Ellen Chang Honda plans to start an electric vehicle division to compete with U.S. and Chinese EV makers. Japanese automaker Honda Motors (HNDAF) said it plans to launch an electric vehicle (EV) division in an effort to compete with other EV giants such as China’s BYD and U.S.-based Tesla (TSLA) – Get Free Report. Honda needs to catch up quickly as traditional auto manufacturers began prioritizing EVs several years ago to meet demand from consumers who no longer want to buy gas-guzzling cars and trucks. The automaker said its new division will be launched on April 1. It will combine its ele…

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