Today, Honda Motor’s Director, President, and Representative Executive Officer, Toshihiro Mibe, announced that due to the “current slowdown in EV demand,” the company has decided to “postpone by approximately two years,” its plan to build a comprehensive EV value chain in Canada.
According to the company press release, the plan, which was initially announced on April 25, 2024, was “to build a comprehensive EV value chain in Canada with an approximate investment of CAD$15 billion, including investment by joint venture partners, to strengthen its EV supply system and capability to prepare for a future increase in EV demand in North America.”
Toshihiro Mibe told investors, “Honda will announce the specific timing of the resumption of the project once it has been finalized, while keeping a close eye on further market demands.”
Today, the company released its 2026 outlook, projecting motorcycle sales to exceed 21.3 million, outpacing FY 2025 sales. Honda noted, “Despite a challenging sales environment, especially in China” the company anticipates growth in HEV sales, “particularly in North America.”
By CEO NA Editorial Staff
