Honda’s chief executive expects the boom in global hybrid sales to continue to the end of the decade, helping fund its ￥10tn ($65bn) investment plan to expand electric-vehicle production.
At a news conference on Thursday, Toshihiro Mibe said the company would stick with its target to phase out petrol and diesel cars by 2040, one of the most ambitious of Japanese carmakers.
Carmakers around the world are increasing their investment in hybrid models, with some delaying longer-term EV targets, as consumers turn away from fully electric cars because of higher costs and concerns about charging infrastructure.
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