Honda said it would put on hold for "approximately two years" a plan announced with great fanfare from Canadian politicians in April 2024 to build an EV supply chain in Alliston, Ont., amid uncertainty with respect to planned U.

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.

Japan's Honda Motor forecast a 59% profit decrease in the current financial year and said it would put on hold a plan to build an EV supply chain in Canada, amid the uncertainty stemming from U.S. President Donald Trump's tariffs.