EV Laggard Honda Latest to Bail on EV Plans - CleanTechnica

The article reports that Honda, historically slow to embrace electric vehicles (EVs), is now canceling three planned EV models for the North American market and writing off up to ¥2.5 trillion ($15.7 billion) in EV investments. This retreat is attributed to a combination of factors including slowing demand for new-energy vehicles, increased costs, and the impact of U.S. tariffs initiated during the Trump administration. Honda forecasts significant losses for the fiscal year ending March, ranging from ¥270 billion to ¥570 billion ($1.69 billion to $3.57 billion). The company’s lagging EV strategy has also hurt its competitiveness in China, a rapidly electrifying market where domestic brands dominate. The article criticizes Honda for its continued reliance on gasoline vehicles and its reluctance to aggressively pursue EV development, contrasting this with competitors like BYD, Leapmotor, and Geely, which are better positioned for global growth in EV sales. Despite some hope that Honda might lead the EV transition as it