Japan’s auto biggie Honda HMC is pulling back on its electric vehicle (EV) plans as global demand cools. Instead, the company is betting big on hybrid cars, aiming to launch 13 new hybrid models globally between 2027 and 2030,

Last year, Honda announced it expected to move somewhere around 2 million EVs over the next two years. That projected figure now sits at around 700,000 to 750,000 units. According to Automotive News, hybrid sales could instead skyrocket to over 2 million during the same time frame.

Honda aims to sell 2.2 million hybrids a year by the end of the decade and is reducing EV investment amid slowing consumer demand.