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Honda Cancels All Three U.S.-Built EVs as It Expects to Lose up to $15.8 Billion
Honda expects up to $15.8 billion in losses and shifts to a fixed-cost model due to tariffs and competition from Chinese EV makers, canceling three U.S.-built EVs.
- On Tuesday, Honda announced it is canceling plans for three US‑built EVs—the 0‑Series SUV, 0‑Series Saloon, and Acura RSX—that were scheduled for production later this year at the Honda EV Hub in Ohio.
- Citing policy and market pressures, Honda said American tariff policies, volatile EV incentives, and slower US electric vehicle sales in recent months weakened its competitiveness against newer Chinese EV manufacturers.
- On the technical side, Honda warned restructuring costs could reach 2.5 trillion yen and faces projected losses up to $15.8 billion, with all three models using the Zero EV platform.
- Several top executives are reducing pay by up to 30 percent for three months, and Honda will establish a fixed‑cost structure appropriate for the scale while announcing a revised mid‑ to long‑term strategy in May of this year.
- Industrywide, Honda's move follows other carmakers delaying US EVs after US policy changes and increasing competition from new Chinese EV brands, with observers warning this affects US buyers.
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USA TodayHonda is pulling the plug on three planned US-built EVs. Here's why.
Honda is killing three of its electric models that it has previously planned to build and sell in the United States, in the latest sign of the automobile industry's retreat on EVs as customer demand and federal support for the technology recede.
·Spokane, United States
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Honda is ending production of the Honda 0 SUV, Honda 0 Saloon, and Acura RSX while reviewing its global electric vehicle strategy.
Coverage Details
Total News Sources14
Leaning Left3Leaning Right2Center3Last UpdatedBias Distribution38% Left, 37% Center
Bias Distribution
- 38% of the sources lean Left, 37% of the sources are Center
38% Left
L 38%
C 37%
R 25%
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