FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: Honda Motor Freezes Canada EV Project Amid Strategy Overhaul

By

Honda Motor (TYO:7267) will pause its plans to establish an electric vehicle (EV) factory in Ontario, Canada, Nikkei Asia reported Wednesday.

The move comes amid weaker US demand, forcing the automaker to focus more on hybrids as part of its North American strategy, the report said.

In May 2025, the company delayed the construction of the plant and a battery factory by two years, according to the report.

Honda Motor is discussing the indefinite suspension of the project with the Canadian government, with a potential termination contingent on trends in North American EV policies, the report said.

Honda was allocating CA$15 billion on the plant and the battery factory, with the related land purchase supposedly obtaining support from Canada, Nikkei Asia said.

(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.)

Related Articles

Asia

Ley Choon Unit Bags SG$36 Million Contracts; Shares Up 3%

Ley Choon's (SGX:Q0X) subsidiary, Ley Choon Constructions and Engineering, secured underground utilities services contracts worth SG$35.6 million, according to a Tuesday filing with the Singapore Exchange.Shares of the underground infrastructure services company were up nearly 3% in Wednesday trading.The contracts are expected to conclude within 24 to 36 months.

SGX:Q0X
Asia

Goldwind Science & Technology to Provide Wind Turbine Services in Morocco for $29 Million; Hong Kong Shares Down 3%

Goldwind Science & Technology (SHE:002202, HKG:2208) agreed to provide long-term operation and maintenance services for wind turbines in Morocco for a total guarantee amount of up to $29.4 million, according to a Shenzhen bourse filing on Wednesday.The deal was signed with Energie Eolienne du Maroc through a subsidiary, Goldwind Morocco (SARL).The Chinese wind power company's Hong Kong shares dropped 3%, while Shenzhen shares rose less than 3% during morning trade.

HKG:2208SHE:002202
Asia

AusQuest Says Reverse Circulation Drilling at Peru Porphyry Copper-Gold Project Defines Continuous Mineralized Corridor

AusQuest (ASX:AQD) said reverse circulation drilling continues to define a continuous mineralized corridor extending more than 1,500 meters in length at the Cangallo porphyry copper-gold project in Peru, according to a Wednesday Australian bourse filing.Drilling encountered intercepts of 269 meters at 0.3% grade of copper and 0.1 grams per tonne (g/t) grade of gold from 160 meters, as well as 214 meters at 0.3% grade of copper and 0.1 g/t grade of gold from 124 meters.The company said that permitting of the stage four drill pads was prioritized to enable further drilling in the highly prospective southern portion of the prospect.

ASX:AQD