Honda posts $2.7 billion loss amid EV sales slump
NewsBytes | May 19, 2026 9:39 PM CST
Honda drops 2040 EV goal
CEO Toshihiro Mibe admitted it was too slow to adapt to changing market needs.
Honda has dropped its goal to go fully electric by 2040 and paused a major $10.4 billion EV factory project in Canada.
In late 2025, it sold around 15,000 EVs worldwide, with US sales of its Prologue model falling by as much as 86% thanks to reduced tax incentives and tariffs.
Despite all this, Honda's stock actually jumped 7% after it forecast a comeback with hybrid tech and plans for 15 new hybrid models by 2030.
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