Honda to delay plans for EV plant in Canada for a minimum of 2 years

Japan’s Honda Motor Company estimated a decrease in profit of 59 percent in the current financial year and said it would plan to create an EV supply chain in Canada, which is amid uncertainty from US President Donald Trump’s tariff.

Honda’s forecast is the latest sign of the difficulty that car manufacturers are navigating Trump’s tariff on foreign -made automobiles, at the same time the industry is being hit by the rise of Chinese EV growers.

Honda said it would be caught for a “nearly two years” for a plan for a plan declared by Canadian politicians to create an EV supply chain by Canadian politicians in April 2024. This decision was taken due to the current recession in EV demand, it said.

Honda and Nissan had a conversation earlier this year to merge, although the two still have an agreement to cooperate on technology.

Honda’s CEO Toshihiro Mibe said at a news conference, “Although the motor vehicle industry is in a very difficult situation, we will definitely seek new directions of development through strategic partnership.” On Tuesday,