Honda Postpones $11 Billion Canada EV Project on Weak Sales
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Honda Motor has delayed its planned $15bn electric vehicle (EV) battery and assembly facility in Ontario by approximately two years, citing slowing EV demand and tariff impacts, as reported by Reuters .
Honda is also postponing its $11 billion investment in Ontario EV factories due to slowing demand in North America.
The Canadian Press on MSN23h
Honda delays $15-billion EV project citing demand, shifts some CR-V output to U.S.Honda has postponed a $15-billion electric vehicle project in Ontario, citing market demand, and is shifting some production of its popular CR-V model intended for the U.S. market to its Ohio plant because of tariffs.
Japan's Honda Motor Co. said it would postpone a plan to build an electric vehicle (EV) supply chain in Canada, local
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.
Honda announced the postponement on Tuesday after forecasting a 59 per cent profit decline in the current fiscal year.