Honda instructed suppliers to drastically reduce prices as part of a plan to cut more than US$9 billion in costs over the next four years. ^[1] Internal documents and a person familiar with the matter reported that Honda aims to save ¥1.5 trillion ($9.4 billion) by 2030. ^[2] Honda expects EV-related losses to ultimately total more than $12 billion, one of the biggest hits among global automakers. ^[3] Honda managers met with major suppliers in Utsunomiya in the spring to brief them on the cost-cutting plan and source more components from Chinese suppliers. ^[4] The company aims to reduce costs by 30% in three key categories: pressed and forged components, electrical parts, and parts related to software-defined vehicles. ^[5]