Honda announced a $15.7 billion writedown of its electric vehicle (EV) business last week as the company shifts its U.S. strategy to account for weak consumer demand for EVs.The second-largest automaker in Japan said Thursday that it will restructure its EV business and cancel three planned battery-powered EV models that were going to be built and sold in the U.S. market.Demand for EVs has pulled back in recent years as consumers have shown a preference for hybrid vehicles, while President Donald Trump's administration has pulled back tax credits that helped incentivize EV purchases.Honda's mo...
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