Industry Minister Mélanie Joly says Honda Canada remains "fully committed" to major electric-vehicle investments in Canada after the company announced Tuesday that it was pausing a multibillion-dollar EV project in Ontario.

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

Honda’s CA$15 billion commitment was touted by former Prime Minister Justin Trudeau as the “largest auto investment in Canada’s history.” It was to include a battery plant with an annual capacity of 36 GWh while an EV assembly plant would have been able to build as many as 240,000 vehicles per year from 2028.

Japanese auto giant Honda has pumped the brakes on its $15 billion plan to build an electric vehicle supply chain in Canada, blaming "changing market conditions” for a decision that

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.

The development won’t affect jobs at Honda’s Alliston, Ont., plant, but it comes at a turbulent for the province’s automotive industry

Industry Minister Mélanie Joly says Honda Canada remains "fully committed" to major electric-vehicle investments in Canada after the company announced Tuesday that it was pausing a multibillion-dollar EV project in Ontario.

Japanese multinational Asahi Kasei Corporation and Honda Canada formed a joint venture to make battery separators in Niagara. Despite Honda pausing $15 billion in EV investments, Asahi Kasei says the project should continue with 'minimal' impact.