TOKYO -- Honda Motor is working to boost profitability and find a stable growth strategy, pivoting toward hybrid vehicles for now after curtailing plans to invest 10 trillion yen ($69.2 billion) in electric vehicles.
"HVs [hybrids] will play a central role in the transitional period of EV adoption," President Toshihiro Mibe said in May, announcing plans to cut EV-related investments to 7 trillion yen from 10 trillion yen and return to a path of earning money from hybrids.
