News comes one year after automakers agreed to a $5 billion effort to inject more affordability into the electrified market.
Toyota Motor Corp. announced plans to produce 800,000 vehicles worldwide in October, 100,000 vehicles short of its average monthly production plan.
General Motors and Honda Motor Co. announced plans to develop a line of affordable electric vehicles (EVs) with a focus on compact crossovers.
The companies sharply criticized a Democrat proposal in the U.S. House of Representatives to give union-made electric vehicles an additional $4,500 tax incentive.
Toyota Motor Corp. and Honda Motor Co. warn of continued chip supply and parts disruptions as COVID-19 surges again across the globe.
Automakers reported impressive monthly results, showing increases that ranged from 40% to 70% compared to unit sales during the pandemic.
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