Honda announced a 423.9 billion yen ($2.7 billion) loss Thursday in a first-ever negative result for the fabled Japanese automaker, reportedly driven by heavy costs for its electric-vehicle plans underscored by President Donald Trump’s pro-U.S. manufacturing policies.
AP reports the longstanding automaker – established in 1948 by Soichiro Honda – conceded the dire losses related to its EV operations are estimated to total 2.5 trillion yen ($16 billion), incurred mostly in the fiscal year just ended and the current fiscal year.
“EV demand has declined considerably, due to the rollback of environmental regulations in the U.S. and other factors,”…
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