Honda Motor Company

Money Moves

Restructuring EV strategy; pivoting to hybrids; Sony Honda Mobility AFEELA program canceled March 25, 2026; announcing revised long-term plan in May 2026

Honda spent four years and more than four billion dollars converting its Ohio manufacturing complex into an electric vehicle hub. On March 12, the company scrapped the three electric vehicles it had planned for those lines: the Honda 0 SUV, the Honda 0 Saloon sedan, and the Acura RSX. It warned that combined current and future losses could reach $15.8 billion. Honda now expects its first annual loss since it went public in 1957, ending nearly seven decades of unbroken profitability. CEO Toshihiro Mibe and Executive Vice President Noriya Kaihara voluntarily forfeited 30% of their compensation for three months, while other executives took 20% cuts.

Updated May 30