Honda Motor said on Tuesday that it was scaling back its investment in electric vehicles given slowing demand and would be focusing on hybrids, now far more in favour, with a slew of revamped models.
Japan's second-biggest automaker after Toyota Motor also dropped a target for EV sales to account for 30% of its sales by the 2030 financial year.
"It's really hard to read the market, but at the moment we see EVs accounting for about a fifth by then," CEO Toshihiro Mibe told a press conference.
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