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Honda Faces $15.7B Loss, Cancels EV Models Amid Competition

3/12/2026

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Summary

Story summary

Honda Motor Co. faces up to ¥2.5 trillion ($15.7 billion) in charges and a historic annual loss from EV market challenges.
The company will cancel three planned North American EV models and forecast losses for the fiscal year ending in March.
Toshihiro Mibe, Honda Motor Co. CEO, said market shifts and Chinese competition have altered their strategy as the company shifts resources to hybrids and India, with a May update.

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Story summary

Honda Motor Co. faces up to ¥2.5 trillion ($15.7 billion) in charges and a historic annual loss from EV market challenges.
The company will cancel three planned North American EV models and forecast losses for the fiscal year ending in March.
Toshihiro Mibe, Honda Motor Co. CEO, said market shifts and Chinese competition have altered their strategy as the company shifts resources to hybrids and India, with a May update.