The company has written off about 11.7 billion pounds of investment (1.4 trillion rubles at the exchange rate at the time of publication) invested in the development of these models over the past two years, Autoexpress reports.
It was planned that the production of a new wave of electric vehicles, designed to become a technological breakthrough for the brand, would begin in the United States. The 0 Series crossover was supposed to hit the global market at the end of 2026, followed by an elegant sedan in 2027. However, the project has been stopped.
Honda said in an official statement that the decision was made as part of a review of the company’s vehicle electrification strategy due to various factors, including recent changes in the business environment.
The key reason for the collapse of the 0 Series project, according to experts, was the loss of economic feasibility of producing electric vehicles in the USA. President Trump’s administration has eliminated all government grants and funding for green initiatives and eliminated environmental standards, reducing incentives for a green transition.
Demand for electric vehicles remains extremely low in both the US and Japan, two key markets for Honda. The company concluded that starting mass production would lead to even greater losses in the long term. The situation is also aggravated by the falling market share in China.
Earlier, Russians were told about serious problems with their cars in the spring.
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