Honda, Canada and EV
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The Canadian Press on MSN28m
Ontario mayor remains hopeful Honda's EV plant will be built, despite delayThe mayor of an Ontario municipality set to be the home for Honda's now-postponed $15-billion electric-vehicle project said Tuesday he is not giving up hope on the plant.
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.
Slowing demand for EVs and US tariffs on Canada’s auto sector force the Japanese automaker to postpone plans for an EV supply chain in Ontario, dealing a severe blow to Canada’s EV ambitions.
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,
Honda is the latest automaker to warn of a massive hit to its profits as a result of President Trump's auto tariffs.
Honda has stalled its $15-billion plan to build four new electric vehicle factories in Ontario for two years but will continue production of other cars and sport utility vehicles at