Honda Motor said on Tuesday that it was scaling back its investment in electric vehicles given slowing demand and would be focusing on hybrids, now far more in favour, with a slew of revamped models.

For the past 20 years, those who use cars for transportation have begun to consider another option for their everyday lives: the electric vehicle. Switching from a traditional vehicle to an EV could solve quite a slate of problems.

Honda bosses blamed disappointing demand and moves by foreign governments to roll back green regulations designed to encourage EV purchases - Honda. Honda is scaling back investme