Honda has announced its first annual loss since going public, warning of up to $15.8 billion in losses due to a reassessment of its electric vehicle (EV) strategy. The automaker has cancelled three upcoming U.S.-built EV models, including the highly anticipated Acura RSX, just months before their planned production. This drastic move follows a broader trend among automakers facing substantial losses in the EV sector, with Honda citing challenges such as tariffs and competition from China. As the company pivots away from electric vehicles, it plans to refocus on hybrid models, reflecting an increasingly difficult market landscape for traditional car manufacturers.