EV Laggard Honda Latest to Bail on EV Plans

Honda has announced the cancellation of three planned EV models for the North American market, expecting to write off up to ¥2.5 trillion ($15.7 billion) in EV investments. This decision follows a trend among automakers responding to reduced demand for new-energy vehicles and the impact of tariff wars initiated by Donald Trump. Honda's strategy shift reflects its struggles in both the U.S. and Chinese markets, where it has lagged in the EV transition, leading to significant financial losses projected between ¥270 billion and ¥570 billion ($1.69 billion to $3.57 billion) for the fiscal year ending March.