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.
90 Articles
90 Articles
Honda Canada Postpones $15-billion EV Investment Project In Ontario - Canadian Plastics
Honda Canada is postponing a $15-billion electric vehicle (EV) investment project in Ontario, including a proposed EV battery plant and retooled vehicle assembly facility in Alliston. As reported by CBC News and other Canadian news outlets, the Japanese automaker – which produces the second-highest volume of vehicles in Canada – has announced an approximate two-year postponement of the comprehensive value chain investment project in Canada, blam…
The well-known brand of car manufacturing Honda has just confirmed that, due to the slowing demand for electric vehicles, it postpones at least two years the start of a production of this type of car in Canada. A forecast to stop the project to two years but, not definitive since, as they point out, the schedule and progress of the project will be evaluated every certain time "as market conditions change." However, from Honda, they point out tha…
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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