"Honda has paused development on its $15-billion electric vehicle complex in Canada, citing sluggish U.S. demand for EVs as a primary reason for the freeze on investment."
"American tariffs and changes to U.S. domestic policies are creating real pressures for automakers, prompting some to delay or scale back investments in electric vehicle and battery projects."
"The Canadian government continues to support and protect existing automotive facilities while aiming to transform the vehicle industry to benefit from electrification."
Honda Motor is set to definitively halt development on its $15-billion electric vehicle complex in Canada, following a pause initiated in May last year. The decision stems from sluggish demand for electric vehicles in the U.S., prompting Honda to shift its focus towards hybrids as the core of its North American strategy. The Canadian government remains in contact with Honda regarding its plans, but no updates have been provided. The automotive sector is facing significant changes due to U.S. policy shifts affecting EV adoption and investment.
Read at www.cbc.ca
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