The automaker cites a market slowdown as it cuts its planned investment, but a couple of futuristic EVs are still in the works.

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 Motor Co. Chief Executive Toshihiro Mibe called the decisions “a switch in the planned course,” while stressing the long-term shift toward electrification remained unchanged, just pushed back in time.