The Japanese automaker might be “very careful” about starting production on upcoming electric models because of Trump’s initiatives, Honda executive vice-president Noriya Kaihara said at the CES tech conference in Las Vegas this week. He also noted the company’s hesitation to expand its battery production in Canada. (Reuters)

Talking point: It’s the shoe many feared would drop, after Honda warned in November that it would consider shifting its production in Mexico due to potential U.S. tariffs. The automaker has lagged its competitors in the EV transition and is considering merging with Nissan to shore up its market share. Honda’s EV manufacturing investment is the biggest in Canada, more than double that of Volkswagen and about triple that of Stellantis and LG. It’s also an investment that would be doubly hurt by Trump’s plan to both roll back EV incentives and place tariffs on Canadian goods. Another Honda executive told Bloomberg this week that it is banking on retaining its $5 billion subsidies in Canada despite a potential federal election.