technology
Honda Delays Next-Generation Models and Ends U.S. EV Sales After $15.7 Billion in Losses
The automaker is postponing next-generation versions of the Odyssey, Accord, HR-V, MDX and Integra by up to four years after recording $15.7 billion in electric vehicle losses. It will cancel its sole U.S. EV model at the end of 2026 and exit the South Korean market after 23 years. The moves reflect broader industry pressure from rising component costs also affecting consumer electronics pricing.
May 8, 5:06 PM·2m read2 sources
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Honda is delaying the next-generation redesign of five models for multiple years after reporting $15.7 billion in losses on its electric vehicle programs. The affected models are the Odyssey minivan, Accord sedan, HR-V crossover, Acura MDX and Acura Integra.
According to reports citing company planning documents, the current-generation Odyssey, which dates to 2017, will now be succeeded in 2030. The company had briefly considered discontinuing the Odyssey but decided to retain a hybridized version of the model.
Honda will cancel its current U.S. electric vehicle model at the end of this year. Starting in January 2027 the company will have no new electric vehicles available for sale in the United States. The model had been on the market for two years. Honda is also withdrawing from the South Korean market after 23 years, citing inability to compete effectively.
The delays and cancellations follow weaker-than-expected demand for battery electric vehicles. Honda is shifting focus to hybrid technology for the delayed redesigns while maintaining its core gasoline and hybrid lineup.
Separately, Nintendo said it will raise the price of its latest console from $449.99 to $499.99 in the United States and from €469.99 to €499.99 in most European countries beginning in September. The company attributed the increase to sharp rises in the prices of random access memory and storage components, which are also in high demand for artificial intelligence data centers.
Nintendo reported nearly 20 million units sold since the console's launch last June and a 52 percent rise in annual profit to 424 billion yen.
