Honda Canada's $15 Billion Electric Vehicle Plan Faces Two-Year Delay

Honda Canada has decided to delay a planned $15 billion investment in their electric vehicle project within Ontario, citing a slowdown in the EV market as the reason for the postponement.

The comprehensive project involves the creation of an electric vehicle battery plant and the revamping of existing vehicle assembly facilities. Despite the delay, Honda assures there will be no impact on current jobs at its Alliston, Ontario manufacturing plant.

Originally intended to produce 240,000 vehicles per year by 2028, the project was expected to create 1,000 new jobs. The Canadian and Ontario governments had pledged significant financial support, but recent U.S. tariff actions have impacted market conditions, affecting the progression of these plans.

(With inputs from agencies.)