39
Honda indefinitely suspends $15B EV plant in Ontario (www.cbc.ca)
submitted 2 months ago by to c/canada@lemmy.ca
7 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] 2 points 2 months ago (1 child)

That seems a bit extreme. A single loss year doesn't mean immediate collapse. Honda has always been synonymous with reliability and I have no doubt's that their reputation along with them pausing projects that aren't likely to give good returns (like the EV plant as much as it sucks), will help them rebound.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •
  • [–] 7 points 2 months ago (1 child)

    No, it's not the single year loss making me say that. The CEO has basically said they can't compete with BYD, they've been chasing hydrogen with no progress, for 2 decades they have been actively avoiding the EV market (sticking only with hybrids), and now, even when the writing is on the wall that the future is Electric, they're running away once again with their tail between their legs. They were looking for an excuse to not do electric (as they have for ages) and the US tax credit expiration was exactly what they were looking for.

    And the biggest issue is that the EVs from BYD (and pretty much everyone else) are going directly for their core market: value-plus compact cars, cross-overs and small SUVs. Their market share is about to tank in Europe and probably Canada, like is already happening in China. I can even see it getting hit in the US with gas prices and inflation killing ICE sales this year.

    The funny thing is that they've seen it for motorcycles, but not for cars and SUVs. So maybe that will save them.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •
  • [–] 2 points 2 months ago (1 child)

    The first EV's coming into Canada via the new Chinese agreement are definitely not value priced vehicles. The low price tag isn't a requirement of the agreement for several more years. For now, high priced vehicles like the lotus car with a price tag that contains 6 digits (!) Is what is coming over. Honda could pre-empt that, but for some reason are choosing not to. I will not be purchasing a Chinese EV, and wish I could get one from Honda instead. This just reduces my options.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •