TOKYO — Japanese automakers, long criticized for lagging foreign counterparts in launching fully electric vehicles, are being rewarded now for their steady efforts to develop energy-saving hybrid cars as demand for EVs slows in major markets like the U.S. and Europe.
Demand for hybrids, which combine an internal combustion engine with an electric motor, is rising. The shift reflects consumer demand for products “in between” conventional cars and EVs, and is a tailwind for the companies. But the benefits of hybrid sales should be leveraged to accelerate the launch of EVs to tackle fierce competition in other key regions like China and Southeast Asia, analysts say.
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