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Honda to cut back on EV investment due to dissatisfaction in the market

The Honda Motor Company announced Tuesday it will cut back on its previous investment plan for electric vehicle technology in response to its disappointment in the growth of the EV market.

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· 1d · on MSN

· 1d · on MSN

Honda Motor to Cut EV Investment by More Than $20 Billion

Autobody News · 1d

Honda Cuts EV Investment by 30%, Shifts Focus to Hybrids

Japan's Honda to scale back on electric vehicles, focus on hybrids

Honda Motor said on Tuesday that it was scaling back its investment in electric vehicles given slowing demand and would be focusing on capturing growing demand for hybrids with new models.

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Honda pulls back on EV strategy for now and will push hybrid sales

Honda Walks Back EV Investment, Sales Targets on Poor Demand

1d

In EV reality check, Honda CEO Toshihiro Mibe cuts sales, investment targets

Honda will shift its focus to gasoline-electric hybrid vehicles, including a next-generation technology debuting in 2027.

1don MSN

Honda plans a $20 billion pivot to hybrids as EV sales slow

Honda aims to sell 2.2 million hybrids a year by the end of the decade and is reducing EV investment amid slowing consumer demand.

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Honda Is Suddenly Scaling Back EV Plans

The automaker cites a market slowdown as it cuts its planned investment, but a couple of futuristic EVs are still in the works.