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In response to waning market demand, Honda Motors has realigned its investment strategy, focusing less on electric vehicles (EVs) and more on hybrid vehicles. By the 2030 fiscal year, investments in electrification and software will be scaled back from 10 trillion yen to 7 trillion yen, with projections indicating that EV sales share could fall to approximately 20%. Conversely, Honda has set a sales target of 2.2 to 2.3 million units for hybrid vehicles. As part of this shift, the company plans to introduce 13 new-generation hybrid models from 2027 onwards and has put on hold the construction of an EV production facility in Canada. Despite these adjustments, Honda remains steadfast in its commitment to achieve full portfolio coverage of battery-powered and fuel cell vehicles by 2040.
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