09:23:00 EDT Thu 07 May 2026
Enter Symbol
or Name
USA
CA



Honda CDR (CAD Hedged)
Symbol HNDA
Shares Issued 70,000
Close 2026-05-06 C$ 9.02
Market Cap C$ 631,400
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Globe says Honda to shelve Ontario EV plant

2026-05-07 07:17 ET - In the News

The Globe and Mail reports in its Thursday, May 7, edition that Honda Motor has indefinitely suspended its $15-billion plan to build an electric-vehicle complex in Ontario due to U.S. tariffs and changing domestic policies. The Globe's Eric Atkins writes that initially announced in 2024, the project faced a two-year suspension starting in 2025 amid declining demand for EVs and increased costs for emissions-free vehicles. Japan's Nikkei news agency reported on Tuesday that Honda is about to make the suspension indefinite, with the possibility of scrapping it altogether. Honda Canada spokesman Ken Chiu did not address questions on the plan's future. "We have nothing to report at this time," he said, repeating a statement issued a year ago when the suspension was announced, "The company will continue to evaluate the timing and project progression as market conditions change." The project included an EV and battery plant in Alliston, Ont., where Honda has a factory, as well as related projects elsewhere in the province in partnership with South Korea's POSCO Future M Co. and Japan-based Asahi Kasei. When the project was announced, Honda said it would create at least 1,000 jobs.

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