Honda to introduce a new CR-V Hybrid this year, followed by the Accord Hybrid

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Honda Motor Co. Ltd. HMC, -0.85% 7267, +0.67% said Thursday it will introduce a new CR-V Hybrid model this year, followed by a new Accord Hybrid, as part of its electrification strategy in North America to increase hybrid volume. The Japan-based auto maker said to make room for the production of the new models and to increase the volume of hybrid models, it will stop production of the Insight model in June. The Indiana Auto Plant that makes the Insight will then focus on production of the CR-V, CR-V Hybrid and Civic Hatchback models. “Hybrid-electric vehicles are effective in reducing greenhouse gas emissions and are a critical pathway toward Honda’s vision for 100% zero-emission vehicle sales in North America by 2040,” said Mamadou Diallo, vice president of auto sales at American Honda Motor Co. Honda’s U.S.-listed stock rose 0.5% in morning trading. It has lost 8.3% year to date, while the U.S.-listed shares of Japan-based rival Toyota Motor Corp. TM, -0.70% has lost lost 8.1% and the S&P 500 SPX, -1.21% has declined 6.5%.

This article was originally published by Marketwatch.com. Read the original article here.

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