Honda Canada is postponing a $15-billion electric vehicle investment project in Ontario, including a proposed EV battery plant and retooled vehicle assembly facility.

Industry Minister Mélanie Joly says Honda Canada remains “fully committed” to major electric-vehicle investments in Canada after the company announced Tuesday that it was pausing a multibillion-dollar EV project in Ontario.

Japanese multinational Asahi Kasei Corporation and Honda Canada formed a joint venture to make battery separators in Niagara. Despite Honda pausing $15 billion in EV investments, Asahi Kasei says the project should continue with 'minimal' impact.

Honda’s CA$15 billion commitment was touted by former Prime Minister Justin Trudeau as the “largest auto investment in Canada’s history.” It was to include a battery plant with an annual capacity of 36 GWh while an EV assembly plant would have been able to build as many as 240,000 vehicles per year from 2028.

Japanese auto giant Honda has pumped the brakes on its $15 billion plan to build an electric vehicle supply chain in Canada, blaming "changing market conditions” for a decision that

Honda Motor Co., Ltd.'s FY2025 earnings show strong motorcycle sales, but auto struggles, a 12% profit dip, and FY2026 conservative guidance. Click for more on HMC.

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The development won’t affect jobs at Honda’s Alliston, Ont., plant, but it comes at a turbulent for the province’s automotive industry

Research from Canada's parliamentary budget watchdog indicates that manufacturers, between 2020 and 2024, unveiled plans to invest roughly $33 billion in EV and related supply-chain production. The Canadian government pledged $22 billion in financing and tax breaks to lure those companies.