“After careful consideration, the company made the decision to cancel the development and market launch of three EV models that had been planned for production in the U.S., namely the Honda 0 SUV, Honda 0 Saloon, and Acura RSX,” the company said Thursday.
Honda’s announcement did not specifically mention Ohio or planned EV battery production in Fayette County.
“Honda determined that starting production and sales of these three models in (the) current business environment where the demand for EVs is declining significantly would likely result in further losses over the long term,” the automaker said.
The hub was a head-turning announcement for Honda in the fall of 2022, with the company talking of a $700 million investment in retooling its Marysville and East Liberty assembly plants and its engine plant in Anna for EV production.
Honda also embarked on the building of an EV battery plant outside Jeffersonville, itself identified as a $3.5 billion investment.
A message seeking comment was sent to a spokesman for Honda in Ohio and a spokeswoman for the EV battery operation.
What started as a joint-venture EV battery plant, built with LG Energy Solution, covers the equivalent of about 78 football fields near Jeffersonville, in Jefferson Twp., Fayette County.
In all, Honda in recent days has reported its first annual loss in decades, facing $15.7 billion in restructuring costs for its EV business.
“Honda will reassess its resource allocations and further strengthen its hybrid models,” the company said.
About the Author
