Radical duo cancelled just months before launch as Honda announces huge EV investment write-down
Honda has canceled the 0 Series SUV and Saloon just months before production was scheduled to begin, as it restructures its EV strategy in an effort to stem heavy losses.
The Japanese firm announced on Thursday that the two models had been scrapped, just a few months before they were planned to enter production in the US.
They were the first of seven planned ‘0 Series’ models that Honda previously said would arrive before the end of the decade, but the company said uncertainty in the global EV market – and the slackening of EV legislation in the US – has prompted it to cancel the programme, and write off the heavy costs associated with its development.
These futuristic-looking EVs were to sit on a new bespoke platform developed from a clean sheet of paper. The saloon, first shown in concept form in 2024, was pencilled to go on sale first, followed by the SUV.
The write-down decision will result in losses of 340 billion to 570 billion yen, Honda said. It has not yet released its full financial statements.
This story is being updated.
