India, May 20 -- Honda Motor Co., Ltd. announced Tuesday that it is realigning automobile business strategy, with a cut in planned electric vehicle or EV sales ratio, and investment for automobile electrification due to the recent market slowdown. Meanwhile, Honda expects a minimal increase in investment related to Hybrid Electric Vehicle or HEV business.
The changes were evolved as the Japanese auto major is shifting its focus from EVs to hybrid electric vehicles or HEVs, and the development and expanded application of its original next-generation advanced driver assistance system or ADAS.
The proposed investment reduction is based on its decision to postpone the project to establish a comprehensive EV value chain in Canada and change th...