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Honda takes $10 billion hit on EVs and posts net loss

The Japan Times·Kazuaki Nagata·19 days ago
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#carmakers#honda#electricvehicles#hybrids#cars#loss
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Honda Motor CEO Toshihiro Mibe reports the automaker’s first full-year loss ever as a public company.

Honda Motor CEO Toshihiro Mibe reports the automaker’s first full-year loss ever as a public company. | Reuters

Honda Motor posted its first full-year loss ever as a listed company as an aggressive pivot to electric vehicles left it with a big bill and uncertainty ahead. 

It booked a net loss of ¥424 billion ($2.7 billion) in fiscal 2025, which ended in March, taking a ¥1.58 trillion hit on its EV business.   

“In response to the drastic shifts in the EV business environment, we have promptly reorganized our EV operations and investments,” Honda CEO Toshihiro Mibe said at a news conference. 

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