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.

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

Slowing demand for EVs and US tariffs impact on Canada’s auto sector force the Japanese automaker to postpone plans for an EV supply chain in Ontario, dealing a severe blow to Canadian EV ambitions.

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 Canada is postponing a $15-billion electric vehicle investment project in Ontario, including a proposed EV battery plant and retooled vehicle assembly facility.