"The project was first announced in April 2024 at an event that included then-prime minister Justin Trudeau and Ontario Premier Doug Ford, both of whom pledged money toward the project. Ottawa and Ontario said they would provide $2.5 billion each for the project. In the announcement, Honda said it hasn't received any of that promised government money."
Honda indefinitely suspended plans for a $15 billion electric vehicle complex in Ontario because business conditions changed and EV demand declined. Honda previously paused development at the Alliston, Ontario plant and planned to review the EV market after two years. The company said the pause will not affect current employment or production levels at the plant. The project would have created about 1,000 manufacturing jobs. Honda also reported its first full-year loss of $2.7 billion US, attributing it largely to EV-related factors and reduced government incentives, including changes under the Trump administration. Honda cited rollback of environmental regulations in the U.S. and other factors for the demand decline. The project was announced in April 2024 with commitments from Ottawa and Ontario of $2.5 billion each, but Honda said it has not received any of the promised government money.
Read at www.cbc.ca
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