TORONTO — Honda Canada is postponing a $15-billion electric vehicle investment project in Ontario, including a proposed EV battery plant and retooled vehicle assembly facility.
Honda Canada spokesman Ken Chiu said due to the recent slowdown in the EV market, Honda has announced an approximate two-year postponement of the comprehensive value chain investment project in Canada. “The company will continue to evaluate the timing and project progression as market conditions change,” Chiu said in a statement Tuesday.
The decision has no impact on current employment at the Honda manufacturing plant in Alliston, Ont., he added. Honda’s EV project in Canada includes a retooled assembly plant, an electric vehicle battery plant in close proximity, as well as two key battery parts facilities located elsewhere in Ontario.
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