{"id":126074,"date":"2026-03-17T14:46:32","date_gmt":"2026-03-17T17:46:32","guid":{"rendered":"https:\/\/ces.einnews.com\/article\/900041493"},"modified":"2026-03-17T14:46:32","modified_gmt":"2026-03-17T17:46:32","slug":"honda-cancels-3-planned-ev-models-for-the-us","status":"publish","type":"post","link":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/2026\/03\/17\/honda-cancels-3-planned-ev-models-for-the-us\/","title":{"rendered":"Honda cancels 3 planned EV models for the US"},"content":{"rendered":"<p><!--&gt; \n\n<div class=\"featured featured-video video-ct\">\n\n<div class=\"contain\"> \n\n<div class=\"info\">\n\n<div class=\"caption\"> \n\n<p>Lucid Motors interim CEO Marc Winterhoff discusses the impact of high gas prices on the EV market, the unveiling of new models during the companys investor day, his outlook on profitability and more on The Claman Countdown.&nbsp;<\/p>\n\n<\/div>\n\n<\/div>\n\n<\/div>\n\n<\/div>\n\n \n\n<p><a href=\"https:\/\/www.foxbusiness.com\/category\/fox-news-honda\" target=\"_blank\" rel=\"noopener\"><u>Honda<\/u><\/a> announced a $15.7 billion writedown of its electric vehicle (EV) business last week as the company shifts its U.S. strategy to account for weak consumer demand for EVs.<\/p>\n\n \n\n<p>The second-largest automaker in Japan said Thursday that it will restructure its EV business and cancel three planned&nbsp;<a href=\"https:\/\/www.foxbusiness.com\/category\/fox-news-electric\" target=\"_blank\" rel=\"noopener\"><u>battery-powered EV<\/u><\/a> models that were going to be built and sold in the U.S. market.<\/p>\n\n\n\n<p>Demand for EVs has pulled back in recent years as consumers have shown a preference for hybrid vehicles, while President <a href=\"https:\/\/www.foxbusiness.com\/category\/donald-trump\" target=\"_blank\" rel=\"noopener\">Donald Trump's<\/a> administration has pulled back tax credits that helped incentivize EV purchases.<\/p>\n\n \n\n<p>Honda's move to pull back on its EV plans, as well as to write down the value of some of its operations in China, may cost as much as $15.7 billion, while the company also said it will report its first annual loss in nearly 70 years. The company's cash outflows stemming from the writedowns will largely be due to the cost of compensating suppliers.<\/p>\n\n \n\n<p><a href=\"https:\/\/www.foxbusiness.com\/markets\/ford-ceo-says-customer-has-spoken-after-ev-shift-drives-major-quarterly-loss\" target=\"_blank\" rel=\"noopener\"><strong><u>FORD CEO SAYS 'CUSTOMER HAS SPOKEN' AFTER EV SHIFT DRIVES MAJOR QUARTERLY LOSS<\/u><\/strong><\/a><\/p>\n\n\n\n<div class=\"inline image-ct\">\n\n<div class=\"m\">    <img data-opt-id=758893364  fetchpriority=\"high\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i2.wp.com\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2026\/03\/931\/523\/honda-dealership-01.jpg?ve=1&tl=1&ssl=1&w=75&resize=75&ssl=1 75w, 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https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i2.wp.com\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2026\/03\/931\/523\/honda-dealership-01.jpg?ve=1&tl=1&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i2.wp.com\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2026\/03\/931\/523\/honda-dealership-01.jpg?ve=1&tl=1&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i2.wp.com\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2026\/03\/931\/523\/honda-dealership-01.jpg?ve=1&tl=1&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i2.wp.com\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2026\/03\/931\/523\/honda-dealership-01.jpg?ve=1&tl=1&ssl=1&w=1600&resize=1600&ssl=1 1600w\" fifu-data-src=\"https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i2.wp.com\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2026\/03\/931\/523\/honda-dealership-01.jpg?ve=1&tl=1&ssl=1\" alt=\"People outside a Honda dealership\"><\/div>\n\n \n\n<div class=\"caption\">\n\n<p><span>Honda's writedown comes as consumers are turning away from EVs in favor of hybrids.<\/span><span> (Jay L Clendenin\/Getty Images)<\/span><\/p>\n\n<\/div>\n\n<\/div>\n\n\n\n<p>Honda first unveiled two concept models for its \"Honda 0 Series,\" including the Saloon sedan, at the CES trade show in Las Vegas in January 2024, and it had expected to roll out the series' first vehicles this year, starting in North America.<\/p>\n\n\n\n<p>Those plans have now been called off, with Honda canceling the Saloon along with the Honda 0 SUV and the Acura RSX.<\/p>\n\n\n\n<p>Honda will now pivot its U.S. focus to&nbsp;<a href=\"https:\/\/www.foxbusiness.com\/category\/auto\" target=\"_blank\" rel=\"noopener\"><u>hybrid vehicles<\/u><\/a> and will also look to strengthen lineup and cost competitiveness in India.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.foxbusiness.com\/economy\/aston-martin-cut-up-20-its-workforce\" target=\"_blank\" rel=\"noopener\"><strong><u>ASTON MARTIN TO CUT UP TO 20% OF ITS WORKFORCE<\/u><\/strong><\/a><\/p>\n\n\n\n<table class=\"stock-fundamentals\">\n\n<thead>\n\n<tr>\n\n<th class=\"ticker\">Ticker<\/th>\n\n \n\n<th class=\"security\">Security<\/th>\n\n \n\n<th class=\"last\">Last<\/th>\n\n \n\n<th class=\"change\">Change<\/th>\n\n \n\n<th class=\"percent\">Change %<\/th>\n\n<\/tr>\n\n<\/thead>\n\n \n\n<tbody>\n\n<tr>\n\n<td class=\"ticker\"><a href=\"https:\/\/www.foxbusiness.com\/quote?stockTicker=HMC\">HMC<\/a><\/td>\n\n \n\n<td class=\"security\">HONDA MOTOR CO. LTD.<\/td>\n\n \n\n<td class=\"last\">25.49<\/td>\n\n \n\n<td class=\"change neg\">-0.23<\/td>\n\n \n\n<td class=\"percent neg\"> -0.89% <\/td>\n\n<\/tr>\n\n \n\n<tr><\/tr>\n\n<\/tbody>\n\n<\/table>\n\n\n\n<p>The company also said that it has struggled to compete with newer companies in&nbsp;<a href=\"https:\/\/www.foxbusiness.com\/category\/china\" target=\"_blank\" rel=\"noopener\"><u>China<\/u><\/a> that are focused more on short development cycles and software technologies, like advanced driver-assistance systems (ADAS).<\/p>\n\n\n\n<p>\"In such a difficult competitive environment, Honda was unable to deliver products that offer value for money better than that of newer&nbsp;<a href=\"https:\/\/www.foxbusiness.com\/category\/fox-news-manufacturing\" target=\"_blank\" rel=\"noopener\"><u>EV manufacturers<\/u><\/a>, resulting in a decline in competitiveness,\" the company said.<\/p>\n\n\n\n<p>Battery-powered cars accounted for 2.5% of Honda's 3.4 million global sales last year, or about 84,000 vehicles.&nbsp;<\/p>\n\n\n\n<p><a href=\"https:\/\/www.foxbusiness.com\/markets\/lamborghini-scraps-first-ev-launch-calls-development-expensive-hobby\" target=\"_blank\" rel=\"noopener\"><strong><u>LAMBORGHINI SCRAPS FIRST EV LAUNCH, CALLS DEVELOPMENT 'EXPENSIVE HOBBY'<\/u><\/strong><\/a><\/p>\n\n\n\n<div class=\"inline image-ct\">\n\n<div class=\"m\">    <img data-opt-id=758893364  fetchpriority=\"high\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i2.wp.com\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2024\/06\/931\/523\/honda-dealership.jpg?ve=1&tl=1&ssl=1&w=75&resize=75&ssl=1 75w, 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https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i2.wp.com\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2024\/06\/931\/523\/honda-dealership.jpg?ve=1&tl=1&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i2.wp.com\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2024\/06\/931\/523\/honda-dealership.jpg?ve=1&tl=1&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i2.wp.com\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2024\/06\/931\/523\/honda-dealership.jpg?ve=1&tl=1&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i2.wp.com\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2024\/06\/931\/523\/honda-dealership.jpg?ve=1&tl=1&ssl=1&w=1600&resize=1600&ssl=1 1600w\" fifu-data-src=\"https:\/\/mlmjbqro95r8.i.optimole.com\/cb:bOxR.6a5\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/i2.wp.com\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2024\/06\/931\/523\/honda-dealership.jpg?ve=1&tl=1&ssl=1\" alt=\"Honda dealership with cars lined up\"><\/div>\n\n \n\n<div class=\"caption\">\n\n<p><span>Honda is refocusing its U.S. production on hybrid vehicles.<\/span><span> (David Paul Morris\/Bloomberg via Getty Images)<\/span><\/p>\n\n<\/div>\n\n<\/div>\n\n\n\n<p>China is the world's largest auto market and Honda introduced several battery-powered models in the market, but it only sold 17,000 last year, which accounted for just 2.5% of its sales of around 677,000 vehicles in the country and just a fifth of its total EV sales.<\/p>\n\n\n\n<p>Honda said that its initiatives around future EV model introductions will be implemented with flexibility from a long-term perspective while \"monitoring the balance between profitability and&nbsp;<a href=\"https:\/\/www.foxbusiness.com\/category\/fox-news-consumer\" target=\"_blank\" rel=\"noopener\"><u>market trends<\/u><\/a>.\"<\/p>\n\n\n\n<p><a href=\"https:\/\/www.foxbusiness.com\/apps-products\" target=\"_blank\" rel=\"noopener\"><strong><u>GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/u><\/strong><\/a><\/p>\n\n\n\n<p>The company also said it will announce details related to the reestablishment of its mid- to long-term strategy for its auto business at a press conference in May.<\/p>\n\n\n\n<p><i>Reuters contributed to this report.<\/i><\/p>\n\n\n\n<p><strong><a href=\"https:\/\/blockads.fivefilters.org\"> <\/a><\/strong> <a href=\"https:\/\/blockads.fivefilters.org\/acceptable.html\"> <\/a><\/p>\n\n--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8230; . strategy to account for weak <span class=\"match\">consumer<\/span> demand for EVs. The second-largest &#8230; ,&quot; including the Saloon sedan, at the <span class=\"match\">CES<\/span> trade show in Las Vegas &#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-126074","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/126074","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/comments?post=126074"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/126074\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=126074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=126074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=126074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}