Honda has officially announced it is suspending plans to build a $15 billion electric vehicle (EV) factory in Ontario.
Honda Canada confirmed to The Epoch Times in a May 14 statement that the “previously postponed” investment project has now been “indefinitely suspended.”
The Japanese automaker said this would not impact current employment or production levels at its factory in Alliston, Ont., where it said “operations continue to meet strong demand for Honda Civic and CR-V models.”
Earlier in the day, Honda Global CEO Toshihiro Mibe held a press conference in Tokyo, where he said the company will focus on rebuilding its business structure over the next three years. He said Honda will reallocate more resources towards hybrid models that are “high in demand.”…