Honda has decided to postpone its $10.7 billion expansion in Ontario that was aimed at producing electric vehicles and EV components, citing reduced profits from U.S. tariffs and softer-than-expected market demand in North America. Initially, the facilities were expected to produce up to 240,000 vehicles annually by 2028. This move also means postponing 1,000 anticipated new jobs in Canada, although Honda assures that current employment will not be affected. Ontario politicians are hopeful this delay will not result in a complete cancellation of Hondaâs plans.
Honda's decision to postpone its $10.7 billion EV expansion in Ontario for two years is primarily due to reduced profits from U.S. tariffs and lower-than-expected demand for electric vehicles.
The planned expansion, initially aiming to produce 240,000 EVs annually, is now on hold, impacting potential jobs and future production alignments tied to geopolitical tensions.
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