Honda Canada Halts $15-Billion EV Project Amid Market Concerns
Tuesday, May 13, 2025, 8:21 am
Honda Canada has hit pause on its ambitious $15-billion electric vehicle project in Ontario, citing sluggish market demand as the primary culprit. This shutdown delays plans for an EV battery plant and revamped assembly facility, leaving industry watchers to wonder if the Canadian EV market has lost its spark.
Le constructeur repousse ses plans d’environ deux ans en raison du ralentissement du marché des véhicules électriques.
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 Canada postpones $15-billion EV investment project in Ontario CP24
Honda Canada says it is halting plans for a $15 billion electric vehicle project for two years. A company spokesperson told Reuters that the decision was made largely due to a slowdown in market demand. The news comes as Honda’s profit for the fiscal year through March slipped 24.5 per cent from…
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