US EditionHonda Canada postpones $15-billion EV investment project in Ontario
- Honda Canada is postponing its $15 billion electric vehicle project in Ontario for approximately two years due to market challenges.
- The decision follows a slowdown in EV demand, profit declines, and uncertainty caused by U.S. Tariffs under President Trump.
- Honda planned to build a $7 billion EV battery plant near its Alliston facility and refuted reports of shifting production to the U.S.
- Honda projects a 70% profit drop to 250 billion yen by March 2026 and CEO Toshihiro Mibe said the industry faces a very difficult situation.
- The postponement signals ongoing pressure on Honda's investments and reflects broader industry challenges including tariff impacts and competition.
60 Articles
60 Articles
Honda Canada postpones multibillion EV investment project in Ontario | The Asahi Shimbun Asia & Japan Watch
TORONTO--Honda Canada will postpone a $15-billion Canadian (US$10.7 billion) electric vehicle investment project in Canada's most populous province, including a proposed EV battery plant and retooled vehicle assembly facility.
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Honda's $10 billion EV project is the latest victim of the industry's slowdown
Honda Canada will postpone a $15-billion Canadian (US$10.7 billion) electric vehicle investment project in Canada's most populous province, including a proposed EV battery plant and retooled vehicle assembly facility. Honda Canada spokesman Ken Chiu said Tuesday due to the recent slowdown in the EV market, Honda has announced an approximate two-year postponement of the comprehensive value chain investment project in Ontario. “The company will co…
Honda Canada Pauses Plans for $15B Electric Vehicle Project in Ontario
Honda Canada is delaying a $15 billion investment project in electric vehicles in Ontario, including a planned EV battery manufacturing facility and an upgraded vehicle assembly plant. The news was made public during a May 13 Honda Global press conference to announce the company’s financial results for its latest fiscal year, which ended on March 31. “Looking ahead, the growth of the electric vehicle market has slowed more than initially expecte…
Honda pumps brakes on $15 billion EV hub but Ontario premier says expansion 'intact'
Slowing demand for EVs and US tariffs impact on Canada’s auto sector force the Japanese automaker to postpone plans for an EV supply chain in Ontario, dealing a severe blow to Canadian EV ambitions.
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