Honda has announced that it has cancelled what were supposed to be its flagship self-developed EVs, the so-called 0 Series cars that were going to represent a reset on the company’s electric ambitions. 

In a report previewing the company’s state of affairs before the end of its financial year at the end of March, the Japanese carmaker said that it expected to record a significant loss and would have to make some tough decisions as a result. 

The company has massively downgraded its forecast for the 2025/2026 financial year from a £1.7bn profit to around a £2bn loss. The previous year it made a £4.3bn profit. The loss would be the company’s first since floating on the stock market in the early 1950s. 

​Honda said that it had made the decision to cancel the electric range to “improve the current earnings situation as early as possible” – it needs to save some cash fast and canning those cars was the easiest way to do it. 

The 0 Series range of EVs – starting with an SUV and a coupe-style family car – had been developed in-house by Honda and the company had been touting the innovative tech features of the cars ahead of production reveals later in 2026. Their cancellation is a fairly stark reveal of behind the scenes troubles at the company.

There's no word yet on whether the new Afeela joint venture with Sony will also be cancelled in the wake of Honda's financial distress. 

Honda said that a drop in projected demand for the new 0 Series cars, particularly in the US where they were set to be built, meant “starting production and sales of these three models in current business environment […] would likely result in further losses over the long term.”

Honda admitted in its report that it has fallen behind competitors because it’s been unable to compete with the software and safety packages that rivals have developed, but says that the firm is focused on “reestablishing its competitive strengths”.

The company further said that “initiatives toward the future introduction of EV models will be implemented flexibly from a long-term perspective, while monitoring the balance between profitability and market trends.” Which means we’ll be waiting a little while longer to see any Honda EVs while company bosses hold their fingers up and see which way the wind is blowing. 

Car industry bosses claimed this week that expectations on EV take-up needed a drastic rethink in the UK with demand not increasing as quickly as they hoped (or rather profits not increasing as quickly as they hoped...), showing that all carmakers are under pressure to make EVs profitable. 

The move leaves Honda without an EV on sale in the UK until the Super-N arrives – possibly later this year – since the carmaker's e:NY1 electric SUV has mysteriously disappeared from sight, adding the car to the growing pile of ditched Honda EVs.