Honda 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.
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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.
·Tokyo, Japan
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·Plattsburgh, United States
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