Honda Plans New EV Factory in Canada

TOKYO, Apr 26 (News On Japan) - Honda has unveiled plans to construct a factory dedicated to electric vehicles (EVs) in Ontario, Canada, as part of its broader strategy to fully transition to EVs by 2040.

The new facility will focus on assembling complete EVs and manufacturing batteries, in collaboration with Asahi Kasei through a joint venture. The construction of the EV factory is targeted for completion and operational readiness by 2028.

The investment for this massive project includes contributions from the joint venture partners and substantial subsidies from the Canadian government, amounting to a total expected investment of 1.6 trillion yen.

Honda’s decision to expand its manufacturing capabilities in North America via this new facility underscores its commitment to enhancing its competitiveness in the EV market, aligning with its long-term electrification goals.

Source: ANN

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