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Market Chatter: Honda "Indefinitely Suspends" a C$15-Billion EV Plant in Ontario

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Honda Motor (HMC) is suspending a C$15 billion electric-vehicle manufacturing plant planned for Ontario as its raises it focus on hybrid-vehicle production, CTV News reported.

The company said it is "indefinitely suspending" the project as the company reported its first-ever annual loss on Thursday, the news service reported, due to the costs of its EV strategy as the Trump Administration ended subsidies and lowered emission standards for internal-combustion vehicles.

The project, backed by C$5 billion in subsidies from the federal and Ontario government, would have created 1,000 jobs at the company's Alliston, Ontario, manufacturing facility and produce 240,000 EVs annually.

Honda said the suspension will not affect current production or employment at its Alliston operations.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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