Honda said its plan to build an EV supply chain in Alliston, Ont. — which was first announced in April 2024 — would be paused for about two years, due to uncertainty caused by tariffs.

Fourth-quarter revenue was in line with LSEG mean estimates, but fourth-quarter operating profit posted a huge miss. Revenue for the full financial year rose 6.2% year on year, but operating profit fell 12.

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

Postponing the Canadian EV project is part of the automaker's effort to contain the damage from hefty U.S. tariffs on foreign-made vehicles. Honda said it expects its net profit to drop 70% to 250 billion yen ($1.68 billion) for the year ending March 2026.

Honda announced the postponement on Tuesday after forecasting a 59 per cent profit decline in the current fiscal year.

U.S. equities were mixed at midday, with tech shares and a better-than-expected consumer inflation report lifting the S&P 500 and Nasdaq.

TORONTO - Honda has postponed a $15-billion electric vehicle project in Ontario, citing market demand, and is shifting some production of its popular CR-V model intended for the U.S. market

Ontario Premier Doug Ford is set to speak with reporters on Tuesday, hours after the auto giant Honda announced it is putting a major electric vehicle supply chain planned for the province on hold.