Honda to cut EV investment plan by 30% to 7 tril. yen

Honda Motor Co. said Tuesday it will cut its investment plan for electric vehicle technology through fiscal 2030 to around 7 trillion yen ($48 billion) from the previous 10 trillion yen, citing lower-than-expected growth in the EV market.The revision to the plan reflects Honda's postponement of a 1.5 trillion-yen investment plan to start operations of new EV facilities in Canada, including an EV factory and battery plant, by two years from the initially planned 2028.Honda President Toshihiro Mibe told a press conference that slow EV growth in North America and in Europe and recent moves to …READ FULL ARTICLE