From Quartz.

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Honda said Thursday it will cancel development and production of three planned EVs in North America, citing a strategy reassessment amid weakening demand and tariff pressures. The canceled models — the Honda 0 SUV, Honda 0 Saloon, and Acura RSX — underscore weakening EV demand and U.S. tariff pressures.

After Honda canceled three EV models, the reversal could cost up to 2.5 trillion yen (about $15.7 billion) in write-offs and impairments across this fiscal year and beyond. The New York Times reported the move is expected to push Honda into its first annual net loss since 1957.

Factors include revised U.S. EV incentives, eased emissions rules, competitive pressure in China, and tariff impacts. Honda will shift to hybrids, delay EV plans, cut costs, and reduce executive pay, while keeping its dividend forecast unchanged. #honda #evmarket #automotive #businessnews #sustainability

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