Slower market demand, tariffs and evolving production strategies cited as some of the reasons why Honda is pausing its Canadian EV plans

Honda Canada spokesman Ken Chiu said Tuesday due to the recent slowdown in the EV market, Honda has announced an approximate two-year postponement of the Ontario investment.

Honda said on Tuesday it would postpone by at least two years its large-scale investments to establish an electric vehicle supply chain in Canada. Originally announced in April of last year , the project is valued at $15 billion,