Japan’s Honda to scale back on electric vehicles, concentrate on hybrids
TOKYO: Honda Motor said on Tuesday (May 20) 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 per cent 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,”...