According to Japanese media reports on the 6th, Honda is in discussions with the Canadian government to scrap its planned electric vehicle, battery and cathode material plant in Ontario.
First announced in April 2024, the 15-billion-Canadian-dollar project was Honda’s largest-ever investment, targeting annual output of 240,000 EVs. Due to external policy shifts, Honda delayed production from 2028 to 2030+ last May and began re-evaluating the plan.
The firm has now decided to terminate the project, citing the end of U.S. EV tax credits and delayed U.S.-Canada trade talks. The move is part of its global business restructuring. Since last November, Honda has adopted an emergency management regime to ease financial strain from heavy EV investments and weak EV demand.
