14:43 - 20.05.2025

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May 20, Fineko/abc.az. Japanese automaker Honda has reduced its investment plan for production of electric vehicles, as well as lowered its sales target, ABC.AZ reports, quoting company’s CEO Toshihiro Mibe.

Honda will now invest 7 trillion yens in production of electric vehicles and software in the long-term prospect, compared with the previously planned 10 trillion yens.

"Investments in electric vehicles have not been stopped, they have simply been pushed into the background," Mibe said.

He explained that Honda has also adjusted its electric vehicle sales targets by the end of the decade based on the current decline in demand and the growing popularity of hybrid car models.