Honda indefinitely pauses $15B Ontario EV plant after posting first full-year loss
By
Abby Hughes
Summary
Honda has indefinitely suspended its $15-billion electric vehicle complex plans in Ontario, pivoting toward hybrids instead. The decision follows the automaker's first-ever full-year loss of $3.68 billion, attributed largely to declining EV demand. The project, which was expected to create about 1,000 manufacturing jobs by 2028, is now on hold indefinitely as the company reassesses its strategy in response to market conditions.
Source
bskyHonda indefinitely pauses $15B Ontario EV plant after posting first full-year losscbc.caKey quotes
· 3 pulledHonda has indefinitely suspended its plans for a $15-billion electric vehicle complex in Ontario, as it pivots away from EVs and toward hybrids.
The move comes as the automaker posted its first full-year loss ever to the tune of $3.68 billion, in large part due to lower EV demand.
the complex could have created about 1,000 manufacturing jobs
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