Honda Faces First-Ever Loss After Scrapping Key EV Plans

Honda is preparing for something no one saw coming. The Japanese automaker expects to report its first net loss since going public in 1957, with projections suggesting a hit of up to 2.5 trillion yen ($15.7 billion). The main driver is a sharp reversal in its electric vehicle strategy, particularly in North America, where three EV projects, excluding its Sony collaboration, have now been scrapped.EV Slowdown Hits Hard

Honda

Honda’s decision to cancel key EV programs has triggered massive write-downs, says TV Tokyo BIZ Digest. Honda ha …