Honda ramps up shift to hybrids under new CEO

To ensure the survival of Honda Motor Co., President and CEO Takanobu Ito, who assumed the post in June, seeks to change the way the company does business, starting with shifting its focus to gasoline-electric hybrids. Ito wants to establish the car maker’s technological edge over its rivals in the area of hybrids quickly and has taken the unusual step of also taking the helm of the firm’s main R&D unit. Ito also asked the technical staff to move forward the “minor change” in the current Insight by one year to 2010, rather than following the company’s traditional practice of waiting at least two years before making any changes to a new model. (November 19, 2009)