TOKYO (AP) — Honda said May 20 electric vehicle sales were slowing in the U.S., prompting the Japanese automaker to scrap its previous goal for EVs to be 30% of its global vehicle sales by 2030.

Instead of the initial plan to invest $69 billion in an electrification strategy through the fiscal year ending in 2031, Honda is reducing that investment by $21 billion to $48 billion.

Honda Motor Co. Chief Executive Toshihiro Mibe called the decisions “a switch in the planned course,” while stressing the long-term shift toward electrification remained unchanged, just pushed back in time.

Mibe didn’t mention U.S. President Donald Trump. But Trump’s policies on tariffs, as well as his lack of enthusiasm for electric vehicles, have Japanese automakers scrambling to adapt.

“The environment surrou

See Full Page