Overview

• Honda has cut its planned EV investment from 10 trillion yen ($69 billion) to 7 trillion yen ($48 billion) through fiscal 2031, citing slower-than-expected market growth.
• The company has abandoned its target of EVs making up 30% of global sales by 2030, now projecting a lower figure of around 20%.
• As part of its new strategy, Honda will introduce 13 next-generation hybrid models starting in 2027, aiming to sell 2.2–2.3 million hybrids annually by 2030.
• The automaker is adapting its Marysville, Ohio plant to produce both EVs and hybrids and has paused a C$15 billion EV hub project in Ontario for two years.
• Honda reaffirms its long-term goal of achieving 100% zero-emission vehicle sales by 2040 despite the shift in short-term priorities.