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Honda, Canada and EV
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Honda announced the postponement on Tuesday after forecasting a 59 per cent profit decline in the current fiscal year.
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.
The development won’t affect jobs at Honda’s Alliston, Ont., plant, but it comes at a turbulent for the province’s automotive industry
Ontario Premier Ford is vowing to hold auto companies that pull out from Ontario "accountable" after news that Honda announced it is putting a major electric vehicle supply chain planned for the province on hold.
Honda Canada is postponing a $15-billion electric vehicle investment project in Ontario, including a proposed EV battery plant and retooled vehicle assembly facility.
Honda said on Tuesday it would postpone by at least two years its large-scale investments to establish an electric vehicle supply chain in Canada. Originally announced in April of last year , the project is valued at $15 billion,
Touted as a major addition to Ontario's manufacturing base, the project meant for Alliston, north of Toronto, hit roadblocks from a slowdown in EV sales and tariffs imposed by Donald
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