Ontario's auto sector faces setbacks as Honda postpones its electric vehicle supply chain project, citing a significant profit decline and reduced EV demand. This decision comes just weeks after General Motors announced layoffs at its Oshawa plant. Premier Doug Ford is expected to address these developments amid upcoming budget announcements critical for mining minerals needed for electric vehicles. Honda's two-year delay reflects the challenges automakers encounter, not only from tariffs but also from competition with Chinese manufacturers.
"The company will continue to evaluate the timing and project progression as market conditions change," Honda Canada spokesperson Ken Chiu said in a statement Tuesday.
Honda said it would put on hold for "approximately two years" a plan announced with great fanfare from Canadian politicians in April 2024 to build an EV supply chain in Alliston, Ont.
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