Honda pulls back on EV strategy for now and will push hybrid sales
TOKYO — Honda said Tuesday electric vehicle sales were slowing in the U.S., prompting the Japanese automaker to scrap its previous goal for EVs to be 30% of its global vehicle sales by 2030.
Instead of the initial plan to invest 10 trillion yen ($69 billion) in an electrification strategy through the fiscal year ending in 2031, Honda is reducing that investment by 3 trillion yen ($21 billion) to 7 trillion yen ($48 billion).
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