Honda Retreats To Hybrids After Failed EV Bet Triggers Record $9 Billion Loss

An anonymous reader quotes a report from Electrek: Honda is waving the white flag. The Japanese automaker previewed two new hybrids set to launch by 2028 after taking an over $9 billion hit over its failed EV bet, leading to its biggest loss in company history. Honda admitted it was "unable to deliver products that offer value for money better than that of new EV manufacturers, resulting in a decline in competitiveness," after suddenly announcing plans to cancel three new EVs in the US in March,