Toyota, the US hybrid market leader, announced a US$3 billion investment this week to build a new hybrid vehicle plant in Ohio and expand production capacity at plants in two other states. (EPA Images pic)NEW YORK: Electric vehicle growth has hit a speed bump in the US, but hybrid autos are gaining market share thanks to the jump in fuel prices due to the Iran war.

Rising popularity of hybrids -- which can run on either gasoline or an electric charge -- has been a source of US sales increases for Japanese and South Korean carmakers in 2026, prompting fresh investments from both established and new players in that segment of the market.

Honda, a longtime rival to US hybrid market leader Toyota, announced this week US$3 billion to build a new hybrid plant in Ohio and add capacity at plants in two other states.