Honda Motor (NYSE:HMC) announced on Tuesday a two-year postponement of its ambitious $15 billion electric vehicle investment project in Ontario. The Japanese automaker pointed to a slowdown in global EV demand and mounting economic uncertainty linked to new U.

Honda said its plan to build an EV supply chain in Alliston, Ont. — which was first announced in April 2024 — would be paused for about two years, due to uncertainty caused by tariffs.

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,