Honda Cancels Plans to Build $15 Billion Electric Vehicle Factory in Canada: Report

A general view of production along the Honda CRV production line is shown during a tour of a Honda manufacturing plant in Alliston, Ont., on April 5, 2023. The Canadian Press/Cole Burston

Honda is indefinitely suspending its plan to build a $15 billion electric vehicle (EV) factory in Ontario, according to a Japanese news outlet.

Slow demand in the United States had forced the Japanese automaker to put hybrid vehicles at the “centre of its North American strategy,” and freeze plans for the EV factory, Nikkei Asia reported May 6.