Honda Motor aims to double hybrid sales to 1.3 million units by 2030 from 2023, globally except in China, the company said in a plan announced Wednesday.

Starting in 2026, Honda will launch a new generation of hybrid cars, aiming to improve fuel consumption performance by 10% with newly developed engines and other features.

Honda will boost sales centered on North America, where demand is growing significantly, and raise funds for enhanced research and development of pure electric vehicles.

The Japanese automaker plans to reduce the cost of hybrid vehicle systems by more than 30% by 2023 through the commonization of parts across multiple models.