Honda Delays Canadian EV Value Chain Project Amid Demand Slowdown

Honda Motor Co ( (JP:7267) ) has provided an announcement.

Honda Motor Co., Ltd. has announced a two-year postponement of its plan to establish a comprehensive electric vehicle value chain in Ontario, Canada, due to a slowdown in EV demand. This delay impacts Honda’s strategy to strengthen its EV supply chain in North America, which was initially set to involve a significant investment of CAD$15 billion and collaboration with joint venture partners to build EV and battery plants. The project, which aims to prepare for future EV demand, is expected to create numerous jobs and contribute to the Canadian EV manufacturing ecosystem once resumed.

The most recent analyst rating on (JP:7267) stock is a Buy with a Yen1750.00 price target. To see the full list of analyst forecasts on Honda Motor Co stock, see the JP:7267 Stock Forecast page.

More about Honda Motor Co

Honda Motor Co., Ltd. is a prominent player in the automotive industry, primarily known for manufacturing automobiles, motorcycles, and power equipment. The company is focusing on expanding its electric vehicle (EV) capabilities, particularly in North America, to align with global trends towards sustainable transportation.

Average Trading Volume: 22,000,429

Technical Sentiment Signal: Buy

Current Market Cap: Yen7148.8B

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