U.S. market weakness prompts Honda to halt plant construction plans in Canada

Glonghui, May 7th｜According to CCTV News citing sources from Japan on the 6th, informed sources stated that given the current weak demand in the U.S. market, Japan's Honda Motor Company has decided to indefinitely freeze its plans to build an electric vehicle plant in Canada. This electric vehicle plant project was originally scheduled to start in 2028, but Honda announced last year that the start date would be postponed by two years. In addition to the electric vehicle plant, Honda had originally planned to build a battery plant in Canada as well, with a total investment of 15 billion Canadian dollars (approximately 11 billion U.S. dollars) for both projects.