The latest to join the growing pile is Japan's Honda, which on Thursday said it expected a hit of US$15.7 billion over the next few years to restructure its EV business. HondaJapan's second-largest automaker said on March 12 it expects to lose ¥2.5 trillion over the next few years as it scraps the development of some planned EV models. The writedown includes payments of approximately €6.5 billion expected to be made over the next four years. Ford MotorThe Dearborn, Michigan-based company said in December it would take a US$19.5 billion writedown and kill several EV models, and pivot hard into gas and hybrid models instead. Volkswagen/ PorscheVolkswagen, Europe's top carmaker, said last September it would take a €5.1 billion hit from a far-reaching product overhaul at its Porsche unit, which delayed some EV models in favour of hybrids and combustion engine cars.

Source: The Edge Markets March 12, 2026 13:10 UTC