Honda slips into first operating loss as it reevaluates EV strategy

Automobiles Red ink is among the largest recorded by Japanese automakers Honda Motor has been forced to revise its electric vehicle strategy, including canceling three EV model launches planned for North America. (Photo by Mayumi Tsumida) TOKYO — Honda Motor recorded an operating loss of approximately 400 billion yen ($2.55 billion) for the fiscal year that ended in March, Nikkei has learned, heavily impacted by problems related to its electric vehicle business.