Honda writes down $15.7 billion as it cancels US EVs

Honda will write down up to 2.5 trillion yen — roughly $15.7 billion — as it reshapes its North American EV strategy. The charge is expected to push profits into the red in 2026, marking Honda's first annual loss in nearly seven decades. As part of the reset, the company is canceling three planned US models — the Honda 0 Saloon, the Honda 0 SUV, and the Acura RSX crossover — all of which had been slated for the Marysville, Ohio, plant, leaving just the Prologue as a fully electric vehicle in its US lineup.

Honda said the move responds to two pressures: an "unfavorable impact" from changes in US tariff policies that affected its gasoline and hybrid business, and a decline in competitiveness in Asia. Acura also discontinued the ZDX electric SUV at the end of 2025. The company still has one EV in the US pipeline: the Afeela, a screen-heavy sedan developed in partnership with Sony, expected to start around $89,900.

United States, Marysville, Ohio

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