New Delhi, May 20 -- Honda Motor has announced a major change in its electric vehicle (EV) strategy, reducing its EV investment from 10 trillion yen to 7 trillion yen by 2030. This decision prioritises hybrid models due to a slowdown in global demand for battery electric vehicles (BEVs) and a corresponding increase in the popularity of hybrids. CEO Toshihiro Mibe cited these market dynamics as the primary drivers for the revised strategy.

Under this updated hybrid strategy, Honda will launch 13 new hybrid cars and SUVs starting in 2027. These models will feature next-generation hybrid systems with over 10% better fuel efficiency compared to current Honda hybrids. More importantly, the cost of these hybrid systems will be cut by more than...