Honda cancels 3 planned EV models for US [FOX Business Network]
Honda Motor Company, Ltd. (HMC)
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Source: FOX Business Network
Honda announced a $15.7 billion writedown of its electric vehicle (EV) business last week as the company shifts its U.S. strategy to account for weak consumer demand for EVs. The second-largest automaker in Japan said Thursday that it will restructure its EV business and cancel three planned battery-powered EV models that were going to be built and sold in the U.S. market. Demand for EVs has pulled back in recent years as consumers have shown a preference for hybrid vehicles, while President Donald Trump's administration has pulled back tax credits that helped incentivize EV purchases. Honda's move to pull back on its EV plans, as well as to write down the value of some of its operations in China, may cost as much as $15.7 billion, while the company also said it will report its first annual loss in nearly 70 years. The company's cash outflows stemming from the writedowns will largely be due to the cost of compensating suppliers. Honda first unveiled two concept models for its
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News
- Death by Tariffs: Volvo Discontinuing Entry-Level EX30 EV in the US [CNET News]CNET News
- Honda Warns of $15.7 Billion EV Charge as Auto Business Losses Deepen [Yahoo! Finance]Yahoo! Finance
- War's impact on oil prices shifts interest about used EV market [USA TODAY]USA TODAY
- Honda Motor Co., Ltd. (HMC) Q4 2026 Press Conference Call Transcript [Seeking Alpha]Seeking Alpha
- Honda Motor (TSE:7267) Is Down 6.4% After Major EV Write-Downs Trigger First Loss in Decades [Yahoo! Finance]Yahoo! Finance
HMC
Sec Filings
- 3/12/26 - Form 6-K
- 2/10/26 - Form 6-K
- 12/16/25 - Form 6-K
- HMC's page on the SEC website