08:35:37 EDT Fri 15 May 2026
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or Name
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Honda CDR (CAD Hedged)
Symbol HNDA
Shares Issued 70,000
Close 2026-05-14 C$ 9.49
Market Cap C$ 664,300
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Globe says Honda pauses Ontario EV project

2026-05-15 06:58 ET - In the News

The Globe and Mail reports in its Friday, May 15, edition that Honda Motor's decision to pause its electric vehicle project in Ontario highlights the challenges Canada's automotive sector faces due to decreased electric vehicle demand and uncertainties in its trade relationship with the United States. The Globe's Eric Atkins writes that Honda Canada on Thursday confirmed it has indefinitely suspended its $15-billion plan to build an EV complex in the province, citing waning consumer demand and changing business conditions. The plan would have seen four plants built to foster the nascent Canadian EV supply chain, producing as many as 240,000 EVs -- most for the U.S. market -- while tapping the country's minerals and tech talent, and providing 1,000 well-paid jobs. The federal and Ontario governments committed a total of $5-billion to the project. Honda cited "evolving business conditions, a change in external resource strategy and shifting customer demand" for the move to shelve the plan, which was announced in 2024 and delayed last year. "Based on our revised strategic objectives, we have determined that an indefinite suspension of the value chain project is appropriate at this stage," Honda said in a statement.

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