Honda adjusts its strategy: cancels development of large SUV electric vehicles and turns to hybrid market

Honda Motor Co. has decided to stop developing one of its strategic electric vehicle projects, a large SUV electric vehicle, and instead increase investment in hybrid vehicles. The decision is based on Honda's assessment of the slowdown in demand for electric vehicles in the U.S. market, and the company plans to reduce investment in electric vehicles and increase investment in hybrid vehicles in the hope of achieving higher profits.