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 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.

Honda announced on Tuesday that it will scale back its ambitious electric vehicle (EV) targets, citing slower-than-expected sales in the U.S. market. The Japanese automaker revealed that it would no longer aim for EVs to account for 30% of its global sales by 2030.