Honda President Skeptical About Plug-in Hybrid's Value

Takeo Fukui believes that up until now the hybrid vehicle business has been about creating impressions and images among potential buyers, and not about producing profitable vehicles at affordable prices.

Published: 20-Dec-2007

TOKYO (AFP) — The head of Japanese automaker Honda Motor Co. said Wednesday he saw no value in developing plug-in hybrid vehicles.

But Honda president Takeo Fukui said he expects competition in conventional petrol-electric hybrids to shift into high gear in the coming year amid growing demand for fuel-efficient vehicles.

"Until now, the hybrid vehicle business has been about creating impressions and images among potential buyers, and not about producing profitable vehicles at affordable prices," he told the group's annual year-end press conference.

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