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 spokesman Ken Chiu said due to the recent slowdown in the EV market, Honda has announced an approximate two-year postponement of the comprehensive value chain investment project in Canada.
“The company will continue to evaluate the timing and project progression as market conditions change,” Chiu said in a statement Tuesday.