Honda has delayed its investments in establishing an electric vehicle supply chain in Canada by two years due to tariffs and lower-than-expected EV demand in North America. The original plan included a significant investment of up to $11 billion for an EV production hub in Ontario, but CEO Toshihiro Mibe stated they are reassessing the situation based on market conditions and have consulted with the Canadian government. Honda is also shifting more production to the U.S. to mitigate tariff impacts, moving models like the Honda Civic hybrid and CR-V to American plants.

Source: https://www.supplychaindive.com/news/honda-postpones-ontario-canada-investment-ev-batteries-11-billion-tariffs/748181/