Honda is shifting its strategic focus from electric vehicles (EVs) to hybrid vehicles in response to slowing demand for electric vehicles (EVs). The company announced a reduction in its planned investment for electrification and software through the 2030 business year to Y7tn ($48.

Honda has announced to shift its focus towards hybrid vehicles, stating it as the bridge for electric vehicle shift.

Honda announced on Tuesday that it will scale back its ambitious electric vehicle (EV) targets, citing slower-than-expected sales in the U.S. market. The Japanese automaker revealed that it would no longer aim for EVs to account for 30% of its global sales by 2030.