Honda Shows Off New Hybrids for America as It Absorbs $9 Billion EV Loss The news from Tokyo yesterday was stark: Honda, one of Japan's most storied automakers, has scrapped its ambitious electric vehicle (EV) plans in favor of more tried and true hybrids.
The decision comes on the heels of a crippling $9 billion write down, attributed to a perfect storm of government policies and market forces that have left the EV sector reeling.
The collapse of federal clean vehicle tax incentives and funding for charging infrastructure has been particularly damaging to American automakers.