Latest news with #CRVs
Business Upturn
2 days ago
- Business
- Business Upturn
GRSE signs contract with GSI to build two coastal research vessels
By Aditya Bhagchandani Published on June 11, 2025, 14:21 IST Garden Reach Shipbuilders & Engineers (GRSE) has signed a contract with the Geological Survey of India (GSI) for the construction of two Coastal Research Vessels (CRVs). The agreement was formalized on June 11, 2025, in Kolkata, highlighting GRSE's growing role in specialized research vessel manufacturing. Each vessel will be 64 meters long and 12 meters wide, with a deadweight tonnage of 450 tons. Designed for oceanic exploration and environmental research, the CRVs will support geological mapping, mineral exploration, and environmental monitoring. Equipped with onboard laboratories, they will have 15-day endurance and house 35 personnel each. This project reinforces GRSE's capabilities, with the company also constructing an Ocean Research Vessel for NCPOR and an Acoustic Research Ship for DRDO's NPOL. GRSE is currently building 16 warships and has been the lowest bidder for the Navy's Next Generation Corvette program. The shipyard is also building multipurpose cargo vessels for a German company. The company's leadership emphasized the vessels will use diesel-electric propulsion and operate within India's Exclusive Economic Zone. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Hamilton Spectator
15-05-2025
- Automotive
- Hamilton Spectator
Joly says Honda still committed to EV investments after $15-billion project delayed
OTTAWA - Industry Minister Mélanie Joly says Honda Canada remains 'fully committed' to major electric-vehicle investments in Canada after the company announced Tuesday that it was pausing a multibillion-dollar EV project in Ontario. Joly said in a statement that she spoke with Honda Canada president and CEO Dave Jamieson, who assured her that 'no jobs will be lost.' Joly says Jamieson confirmed that Honda is still 'fully committed to major EV investments right here in Canada' and the two would work together to 'make it happen.' Honda announced on Tuesday that it has postponed a $15-billion electric-vehicle project, citing market demand, and is shifting some production of its popular CR-V model intended for the U.S. market to its Ohio plant because of tariffs. The halted investment marks by far the biggest project delay yet in Canada as the outlook for EV growth softens. Joly told reporters earlier Wednesday that her goal is to ensure the government is in 'solution mode.' In a quarterly earnings press conference on Tuesday in Japan, chief executive Toshihiro Mibe said the company will look at where the electric-vehicle market is in two years before deciding whether to keep going with the project. 'What happens after two years and the starting time of the project, we have to observe what is happening and ultimately make the decision,' he said, based on translated remarks. While he cited EV demand for the delay, he said the company's move to shift CR-V production to the U.S. is a more immediate result of tariffs. 'There is room to increase the production capacity in the United States, and we are trying to look into what will happen as a result of that,' said Mibe. 'In the midterm, if the tariff measures are to be in place for a long time, then we will have to increase our production capacity in the United States.' Honda was the second largest auto manufacturer in Canada last year based on the roughly 420,000 vehicles it produced, and the CR-V makes up close to half that total. Honda Canada spokesman Ken Chiu said the company has no plans to cut overall production or jobs in Canada, and that the company is instead shifting which vehicles go where based on tariffs. 'We're basically swapping export destinations of a small portion of CRVs between our plants,' he said by email. He said the decision to postpone the EV project, which would include a battery plant, a retooled assembly line and two other plants, has no effect on the 4,200 people who currently work at the Honda manufacturing plant in Alliston, Ont. Honda's decision, affecting plans that were expected to create 1,000 jobs, came as it reported a drop in profits and more on the way because of tariffs. The company said U.S. President Donald Trump's tariffs are expected to cut US$4.4 billion from its operating profit for this fiscal year, largely because it has so many vehicles coming from Canada and Mexico into the U.S. — With files from Ian Bickis This report by The Canadian Press was first published May 14, 2025.
Winnipeg Free Press
15-05-2025
- Automotive
- Winnipeg Free Press
Joly says Honda still committed to EV investments after $15-billion project delayed
OTTAWA – Industry Minister Mélanie Joly says Honda Canada remains 'fully committed' to major electric-vehicle investments in Canada after the company announced Tuesday that it was pausing a multibillion-dollar EV project in Ontario. Joly said in a statement that she spoke with Honda Canada president and CEO Dave Jamieson, who assured her that 'no jobs will be lost.' Joly says Jamieson confirmed that Honda is still 'fully committed to major EV investments right here in Canada' and the two would work together to 'make it happen.' Honda announced on Tuesday that it has postponed a $15-billion electric-vehicle project, citing market demand, and is shifting some production of its popular CR-V model intended for the U.S. market to its Ohio plant because of tariffs. The halted investment marks by far the biggest project delay yet in Canada as the outlook for EV growth softens. Joly told reporters earlier Wednesday that her goal is to ensure the government is in 'solution mode.' In a quarterly earnings press conference on Tuesday in Japan, chief executive Toshihiro Mibe said the company will look at where the electric-vehicle market is in two years before deciding whether to keep going with the project. 'What happens after two years and the starting time of the project, we have to observe what is happening and ultimately make the decision,' he said, based on translated remarks. While he cited EV demand for the delay, he said the company's move to shift CR-V production to the U.S. is a more immediate result of tariffs. 'There is room to increase the production capacity in the United States, and we are trying to look into what will happen as a result of that,' said Mibe. 'In the midterm, if the tariff measures are to be in place for a long time, then we will have to increase our production capacity in the United States.' Honda was the second largest auto manufacturer in Canada last year based on the roughly 420,000 vehicles it produced, and the CR-V makes up close to half that total. Honda Canada spokesman Ken Chiu said the company has no plans to cut overall production or jobs in Canada, and that the company is instead shifting which vehicles go where based on tariffs. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. 'We're basically swapping export destinations of a small portion of CRVs between our plants,' he said by email. He said the decision to postpone the EV project, which would include a battery plant, a retooled assembly line and two other plants, has no effect on the 4,200 people who currently work at the Honda manufacturing plant in Alliston, Ont. Honda's decision, affecting plans that were expected to create 1,000 jobs, came as it reported a drop in profits and more on the way because of tariffs. The company said U.S. President Donald Trump's tariffs are expected to cut US$4.4 billion from its operating profit for this fiscal year, largely because it has so many vehicles coming from Canada and Mexico into the U.S. — With files from Ian Bickis This report by The Canadian Press was first published May 14, 2025.
Yahoo
15-05-2025
- Automotive
- Yahoo
Joly says Honda still committed to EV investments after $15-billion project delayed
OTTAWA — Industry Minister Mélanie Joly says Honda Canada remains "fully committed" to major electric-vehicle investments in Canada after the company announced Tuesday that it was pausing a multibillion-dollar EV project in Ontario. Joly said in a statement that she spoke with Honda Canada president and CEO Dave Jamieson, who assured her that "no jobs will be lost." Joly says Jamieson confirmed that Honda is still "fully committed to major EV investments right here in Canada" and the two would work together to "make it happen." Honda announced on Tuesday that it has postponed a $15-billion electric-vehicle project, citing market demand, and is shifting some production of its popular CR-V model intended for the U.S. market to its Ohio plant because of tariffs. The halted investment marks by far the biggest project delay yet in Canada as the outlook for EV growth softens. Joly told reporters earlier Wednesday that her goal is to ensure the government is in "solution mode." In a quarterly earnings press conference on Tuesday in Japan, chief executive Toshihiro Mibe said the company will look at where the electric-vehicle market is in two years before deciding whether to keep going with the project. "What happens after two years and the starting time of the project, we have to observe what is happening and ultimately make the decision," he said, based on translated remarks. While he cited EV demand for the delay, he said the company's move to shift CR-V production to the U.S. is a more immediate result of tariffs. "There is room to increase the production capacity in the United States, and we are trying to look into what will happen as a result of that," said Mibe. "In the midterm, if the tariff measures are to be in place for a long time, then we will have to increase our production capacity in the United States." Honda was the second largest auto manufacturer in Canada last year based on the roughly 420,000 vehicles it produced, and the CR-V makes up close to half that total. Honda Canada spokesman Ken Chiu said the company has no plans to cut overall production or jobs in Canada, and that the company is instead shifting which vehicles go where based on tariffs. "We're basically swapping export destinations of a small portion of CRVs between our plants," he said by email. He said the decision to postpone the EV project, which would include a battery plant, a retooled assembly line and two other plants, has no effect on the 4,200 people who currently work at the Honda manufacturing plant in Alliston, Ont. Honda's decision, affecting plans that were expected to create 1,000 jobs, came as it reported a drop in profits and more on the way because of tariffs. The company said U.S. President Donald Trump's tariffs are expected to cut US$4.4 billion from its operating profit for this fiscal year, largely because it has so many vehicles coming from Canada and Mexico into the U.S. — With files from Ian Bickis This report by The Canadian Press was first published May 14, 2025. Catherine Morrison, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
04-03-2025
- Business
- Yahoo
What could the tariffs on Canada, Mexico mean for Utahns?
SALT LAKE CITY () — With incoming tariffs scheduled to go into effect on March 4, political and business leaders in Utah are looking for ways to minimize the impacts. After accepting , President Donald Trump announced Monday that the , in addition to increasing tariffs on China to 20%. The said it is in touch with entrepreneurs and policymakers on how the tariffs may impact the Beehive State. Here are some goods in the crosshairs of Trump's tariffs on Mexico, Canada and China 'Twenty-five percent of jobs within the state rely on international trade… which equates to about 433,000 jobs in Utah,' John Freedman with the World Trade Center told 'That's significant.' In a February , the Trump administration said the tariffs are being imposed 'to hold Mexico, Canada, and China accountable' for preventing illegal immigration and stopping fentanyl and other drugs from coming into the country. 'Tariffs are a powerful, proven source of leverage for protecting the national interest,' the White House said. 'President Trump is using the tools at hand and taking decisive action that puts Americans' safety and our national security first.' The tariffs are expected to impact imports — which would likely lead to higher grocery prices and higher prices at the gas pump, the Associated Press reports. Experts say companies will handle the cost, or they'll pass it on to the customers. But with the push to manufacture in the United States, diversifying suppliers may be a challenge for Utah companies. 'We're a state built up of small and medium-size companies… there's pros to that: We're resilient, we're innovative, we're industrious, we're nimble,' Freedman said. 'But on the flip side, we're uniquely susceptible to things like tariffs, where we don't have large companies that can deploy capital and bring manufacturing onshore quickly. That's hard for us to do.' Car dealerships in Utah say that the worst case scenario could be a $4,000 to $10,000 increase on a new car purchase. How Utah is working toward increasing more affordable housing 'Parts are shipped back and forth before they're installed… they go back and forth over borders, so trying to manage that would be extremely difficult,' Mike Kistemaker with Ken Garff Automotive Group told Kistemaker said certain cars are more affected than others, such as small SUVs and compact cars. He said a lot of Honda vehicles are built in the U.S., but some of the company's 'best sellers' — like Civics and CRVs — are built in Canada, so they would likely be impacted. On the national level, on Monday after President Trump confirmed the tariffs would be imposed. Experts say it will take some time to gauge the full effects of the tariffs, but business will continue. If you have your own business in the state and want help or insight on how to move forward, you can contact the World Trade Center. The Associated Press contributed to this report. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
