Support CleanTechnica's work through a Substack subscription or on Stripe.
I just saw the following headline from the Wall Street Journal: “Honda’s Never Faced a Crisis Like This—and a Comeback Won’t Be Easy.” The subheading is as follows: “The Japanese automaker reported a $2.7 billion loss amid EV whiplash in the U.S., its biggest market.”
My first thought was basically wondering how much Honda was really focused on and pursuing EV sales. But, apparently, the company had finally turned a corner and was counting on EV development and growth being part of its future. Until the US market was hit by big changes in policy and sales went in the wrong direction.
But I really got stuck on this idea, which I’ve passed over a bit in the past — have Honda and other automakers expected a lot more EV sales to materialize than they’ve achieved? Have they expected buyers to pour in for their one EV model like people lined up down streets did to reserve the Tesla Model 3 back in 2016?
There’s suspicion of some funny business and PR behind these huge “EV” write-offs, with automakers also using this as an excuse for challenges they’ve faced from tariffs and overall auto demand. But they have clearly been losing money on their EV initiatives.
