BusinessHonda has indefinitely suspended its plans for a $15-billion electric vehicle complex in Ontario, as it pivots away from EVs and toward hybrids. The move comes as the automaker posted its first full-year loss ever to the tune of $3.68 billion, in large part due to lower EV demand.Move comes as the automaker posts a $3.68 billion loss — its first full-year loss everAbby Hughes · CBC News · Posted: May 14, 2026 8:50 AM EDT | Last Updated: 8 hours agoListen to this articleEstimated 4 minutesThe audio version of this article is generated by AI-based technology. Mispronunciations can occur. We are working with our partners to continually review and improve the results.Honda confirms indefinite suspension of $15B Ontario EV plant projectMay 14|Duration 4:02Honda says it's indefinitely pausing plans for a $15-billion electric vehicle production chain that was supposed to come to Ontario by 2028. As CBC’s Lane Harrison explains, the complex could have created about 1,000 manufacturing jobs.Honda has indefinitely suspended its plans for a $15-billion electric vehicle complex in Ontario due to changing business conditions.The Japanese automaker said last May it was pausing development at the plant, with plans to review where the EV market was at in two years.The decision to more definitively suspend the plant was first reported last week by Japanese media, but at the time Honda did not confirm the news.Honda more definitively halting $15B EV plant development in Ontario, according to reports"Based on our revised strategic objectives, we have determined that an indefinite suspension of the value chain project is appropriate at this stage. We will continue reviewing our future procurement and business strategies, while carefully monitoring market conditions," Honda said in a statement on Thursday.The company says the pause won't impact current employment or production levels at its Alliston, Ont., manufacturing plant.WATCH | Honda pauses investment in Canadian EV chain in 2025:Honda pauses $15B investment in Canadian EV plantsMay 13, 2025|Duration 3:54Japanese automaker Honda says it's pausing a $15-billion investment plan that would have seen four new electric vehicle factories built in Ontario. Honda says it's because of slow market growth in the EV sector due to Trump's trade war.