Honda has announced that it will reduce its investments in electric cars due to declining demand and focus on the growing demand for hybrid vehicles with new

Facing a fast-changing global auto industry, Honda is steering its future in a bold new direction. Recently, Toshihiro Mibe, the Global CEO of Honda Motor Co., unveiled a comprehensive realignment of the company’s automobile electrification strategy.

Honda Motor Co. Chief Executive Toshihiro Mibe called the decisions “a switch in the planned course,” while stressing the long-term shift toward electrification remained unchanged, just pushed back in time.