Ontario Premier Ford is vowing to hold auto companies that pull out from Ontario "accountable" after news that Honda announced it is putting a major electric vehicle supply chain planned for the province on hold.

During the announcement of its 2024-2025 fiscal year financial results on May 13, Honda CEO Toshihiro Mibe stated that in the current fiscal year, which began on April 1 and will end on March 31 next year, Honda expects the impact of the Trump Administration’s tariff policy to hammer 650 billion yen (~$4.34 billion) off its operating profits.

Japanese auto giant Honda has pumped the brakes on its $15 billion plan to build an electric vehicle supply chain in Canada, blaming "changing market conditions” for a decision that

Honda Malaysia has launched its first all-electric vehicle in the country, with the e:N1 making its official debut earlier this morning. The B-segment SUV, which was first shown here last December at the Kuala Lumpur

Premier Doug Ford says he will hold auto-manufacturers "accountable" and ensure they continue making vehicles in Ontario after Honda postponed a major EV project in the province.

Honda’s CA$15 billion commitment was touted by former Prime Minister Justin Trudeau as the “largest auto investment in Canada’s history.” It was to include a battery plant with an annual capacity of 36 GWh while an EV assembly plant would have been able to build as many as 240,000 vehicles per year from 2028.

Honda announced the postponement on Tuesday after forecasting a 59 per cent profit decline in the current fiscal year.