Honda Motor posted its first annual loss in nearly 70 years as a listed company on Thursday, hit by more than $9 billion in costs to restructure its electric-vehicle business, and the firm scrapped its long-term EV sales target. Revealing its worst financial report since Honda listed on the stock market in 1957 underscores how risky an aggressive bet on EVs can be for a legacy automaker when it slams into weaker-than-expected demand. Toshihiro Mibe, CEO of Japan's second-largest automaker, on Thursday said Honda is scrapping its goal of having EVs make up a fifth of its new car sales in 2030 as well as a target of a full shift to electric or fuel-cell vehicle sales by 2040.