The automaker cites a market slowdown as it cuts its planned investment, but a couple of futuristic EVs are still in the works.

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

Honda cuts electrification investment from ¥10 trillion ($69 billion) to ¥7 trillion ($48 billion). The focus shifts to hybrids, with 13 new models and a target of 2.2 million sales by 2030. It’s also working on advanced ADAS to enhance the competitiveness of both EVs and HEVs.