Japan’s Honda warns massive EV writedown will put carmaker in red

Launches of three electric models in North America abandoned

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Honda’s 0 Saloon concept car, one of the electric vehicle models whose development has been halted. (Photo by Nikkei)

YUICHI SHIGA

TOKYO — Honda Motor announced on Thursday that it was canceling three of its electric vehicle model launches planned for North America and expected total “expenses and losses” of 2.5 trillion yen ($15.7 billion) as it reassesses its electrification strategy amid a global slowdown in sales.