On March 12, news emerged that Honda, as a result of reassessing its electric vehicle (EV) strategy, is poised to face expenses reaching up to 2.5 trillion yen, thus joining the ranks of global automotive brands that are suffering significant losses due to setbacks in their EV transition. On Thursday, Honda revealed that it will be canceling three EV models initially earmarked for development and launch in the North American market. The company anticipates its losses for the fiscal year ending in March to fall within the range of 270 billion yen to 570 billion yen. Last month, Honda had already sounded the alarm about escalating expenses in its EV sector. This latest projection underscores that Honda is grappling with challenges akin to those faced by automotive behemoths like Stellantis and Ford Motor. Stellantis had earlier disclosed that it would incur costs exceeding 22 billion euros owing to adjustments in its EV strategy, while Ford Motor also announced business restructuring losses amounting to 19.5 billion USD.