Japanese automaker Honda said Thursday that it expected to book about 2.5 trillion yen ($15.7 billion) in expenses and losses related to a major reorientation of its electric vehicle (EV) strategy.
“The Company expects the total of expenses and losses related to the reassessment of automobile electrification strategy, including the expected losses for the fiscal year ending March 31, 2026, will be up to 2,500.0 billion yen,” the firm said in a statement.
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