Honda is cutting its global EV investment by 30% and delaying its Canadian EV project, shifting focus to hybrid vehicles

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.

Honda’s CA$15 billion commitment was previously hailed by former Prime Minister Justin Trudeau as the “largest auto investment in Canada’s history.” The plan called for a battery plant with an annual capacity of 36 GWh and an EV assembly plant capable of producing up to 240,000 vehicles annually starting in 2028.