Honda, EV and Canada
Digest more
The Canadian Press on MSN2h
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.
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 announced the postponement on Tuesday after forecasting a 59 per cent profit decline in the current fiscal year.
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.
Explore more