<ul data-eligibleForWebStory="false"><li>Honda has reportedly canceled its plan to launch a large electric SUV in 2027, one of seven new EVs planned for launch by 2030.</li><li>The decision to cancel the electric SUV is attributed to the reduction in EV development budget and a shift of funds towards hybrid vehicles.</li><li>The U.S. federal tax credit decline and cooling EV demand have influenced Honda's decision to focus more on hybrids, reducing the planned EV investment from $68.7 billion to $48.1 billion.</li><li>The trend of automakers scaling back ambitious electric vehicle plans has been observed previously, with companies like Ford also redirecting resources to invest more in hybrid vehicle development.</li></ul>

Honda Ghosts Its Big Electric SUV: Report

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