{"id":891311,"date":"2026-03-16T06:29:19","date_gmt":"2026-03-16T06:29:19","guid":{"rendered":"https:\/\/www.electronicsweekly.com\/?p=891311"},"modified":"2026-03-16T10:31:18","modified_gmt":"2026-03-16T10:31:18","slug":"honda-cancels-three-ev-model-launches-takes-15-7bn-hit","status":"publish","type":"post","link":"https:\/\/www.electronicsweekly.com\/news\/business\/honda-cancels-three-ev-model-launches-takes-15-7bn-hit-2026-03\/","title":{"rendered":"Honda cancels three new EV model launches and takes $15.7bn hit"},"content":{"rendered":"<p>Honda has cancelled three US EV model launches &#8211; the Honda 0 Saloon, Honda 0 SUV and Acura RSX &#8211; and said it expected expenses and losses totalling $15.7 billion, reports the <em>Nikkei<\/em>.<\/p><div class=\"elect-content\" style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"elect-1448471920\"><div id=\"x02\">\r\n<script type=\"text\/javascript\"> if ($(window).width() <= 768) { googletag.display('x02'); } <\/script>\r\n<\/div>\r\n<\/div>\n<p>$8.1 billion of the losses will be taken in the current FY ending this month resulting in a loss of<span class=\"Apple-converted-space\">\u00a0 <\/span>$4.3 billion for the FY &#8211; \u00a0the company\u2019s \u00a0first<span class=\"Apple-converted-space\">\u00a0 <\/span>loss in 69 years.<\/p><div class=\"elect-test\" style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"elect-973468142\"><div id=\"DFP-EW-InRead1\">\r\n<script type=\"text\/javascript\"> if ($(window).width() > 768) { googletag.display('DFP-EW-InRead1'); } <\/script>\r\n<\/div>\r\n<BR>\r\n<\/div>\n<p>$7.5 billion of the losses will be taken in the FY ending March 2027.<\/p><div class=\"elect-post-content-2\" style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"elect-272768312\"><div id=\"DFP-EW-InRead1-Mobile\">\r\n<script type=\"text\/javascript\"> if ($(window).width() <= 768) { googletag.display('DFP-EW-InRead1-Mobile'); } <\/script>\r\n<\/div>\r\n<\/div>\n<p>\u201cWe recognise that the entire automotive industry is undergoing a major transition,\u201d said Honda President and CEO Toshihiro Mibe, &#8220;looking back, it was an issu<span class=\"Apple-converted-space\">\u00a0 <\/span>requiring reflection that we were unable to sufficiently revise our strategy with flexibility and multiple scenarios in response to changes in market conditions and policy trends.&#8221;<\/p>\n<p>&#8220;I&#8217;m fully aware of the passion poured in by many <a rel=\"image\" href=\"https:\/\/static.electronicsweekly.com\/wp-content\/uploads\/2026\/03\/14161705\/IMG_1882-scaled.webp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-891313 size-thumbnail\" src=\"https:\/\/static.electronicsweekly.com\/wp-content\/uploads\/2026\/03\/14161705\/IMG_1882-150x150.webp\" alt=\"Honda cancels three new EV model launches and takes $15.7bn hit\" width=\"150\" height=\"150\" srcset=\"https:\/\/static.electronicsweekly.com\/wp-content\/uploads\/2026\/03\/14161705\/IMG_1882-150x150.webp 150w, https:\/\/static.electronicsweekly.com\/wp-content\/uploads\/2026\/03\/14161705\/IMG_1882-70x70.webp 70w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a>employees, business partners and sales staff, as well as the high expectations expressed by our customers,&#8221; Mibe said, adding \u201cwhat is required of us now is not to gloss over the past, but to confront reality head-on and transform our automobile business into a structure capable of long-term growth.&#8221;<\/p>\n<p>Honda blamed changes in the hybrid categories, US tariffs, Chinese competition, and new entrants to the EV market.<\/p>\n<p><a rel=\"image\" href=\"https:\/\/www.electronicsweekly.com\/market-sectors\/automotive-electronics\/\" target=\"_blank\" rel=\"noopener\">See all our Automotive content<\/a>.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Honda has cancelled three US EV model launches &#8211; the Honda 0 Saloon, Honda 0 SUV and Acura RSX &#8211; and said it expected expenses and losses totalling $15.7 billion, &#8230;<\/p>\n","protected":false},"author":3,"featured_media":891313,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12692,16039],"tags":[],"class_list":["post-891311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automotive-electronics","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.7 (Yoast SEO v27.2) - 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