CATL, the world’s largest maker of electric-vehicle batteries, is expanding production, while Honda is cutting spending plans. Oddly, both stocks are up.

Last year, Honda announced it expected to move somewhere around 2 million EVs over the next two years. That projected figure now sits at around 700,000 to 750,000 units. According to Automotive News, hybrid sales could instead skyrocket to over 2 million during the same time frame.

Honda is rethinking its playbook when it comes to electric vehicles and the software that powers them.Honda says the market for EVs isn't quite what was initially projected; instead, the automaker plans on bringing even more hybrid models to market—I am Soichiro's complete lack of surprise.