Honda Motor Co. announced on Tuesday that it would reduce its investment in electric vehicles (EVs) amid waning demand, instead concentrating efforts on the expanding hybrid vehicle market by introducing new models. At a press conference, Honda CEO Toshihiro Mibe disclosed that the company had revised its investment plan for electrification and software from 10 trillion yen to 7 trillion yen (approximately $48.4 billion) for the fiscal year 2030.
