Honda

Honda has halted its $11 billion Ontario manufacturing plant that was designed to produce 240,000 vehicles annually by the end of the decade. This represents a major reduction in planned automotive production capacity and potential demand for battery metals and rare earth elements used in vehicle manufacturing.

Honda is discontinuing its three electric vehicle models in the U.S. market, significantly reducing its competitiveness in the EV transition. This decision will have global implications beyond North America for the automaker's electrification strategy.