Honda Scraps Plans for E.V.s While Start-Ups Forge Ahead
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The Japanese company’s retreat echoes moves by other traditional carmakers as the industry divides between electric vehicle haves and have-nots.
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But the established carmakers risk falling behind as electric vehicles become cheaper to buy and more practical. War with Iran and rising gasoline prices could also make electric vehicles more attractive. Battery-powered cars usually cost thousands of dollars more to buy than cars that run on fossil fuels, but much less to operate. Electricity is usually cheaper per mile than gasoline and less prone to big swings in price.
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