Honda is abandoning plans to build a $15-billion EV plant in Ontario because of slumping demand, according to a report by Nikkei, Japan’s leading business publication.
Honda neither confirmed nor denied the report.
“The content of the article was not released by Honda, and we have nothing to report at this time,” the company said in a written statement.
More … The EV Bust Claims Five More Victims… and They Aren’t Even EVs?
Honda’s failed bet on electric vehicles means the Japanese auto giant will have to stretch the lifecycles of five top-selling vehicles “in some cases to more than a decade,” according to a supplier memo seen by Automotive News.
