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Honda Contemplates $18.4 Billion Investment for EV and Battery Plant in Canada

Arshad Khan

Japanese automaker Honda is considering a hefty $18.4 billion investment in an electric vehicle (EV) and battery plant complex in Canada

Japanese automaker Honda is considering a hefty $18.4 billion investment in an electric vehicle (EV) and battery plant complex in Canada, aiming to join the country’s rapidly growing EV scene.

With its 2040 goal of full EV production in sight, Honda is reviewing several potential locations, including an expansion near its existing Ontario plant. A final decision is expected later this year.

Canada’s abundant renewable energy and recent 2035 EV sales mandate are key attractions for Honda. Industry Minister Champagne has already hailed the potential investment as a testament to Canada’s growing EV leadership.

While Honda partners with LG Energy Solution for an EV battery plant in Ohio, its Canadian plans hint at potential solo battery production. This could add to Canada’s burgeoning battery infrastructure, alongside major projects by Volkswagen and Northvolt.

Honda’s commitment extends beyond this potential mega-plant. Recent investments like upgrading its Ontario facility for hybrid CR-V production and launching its first EV, the Prologue, showcase its growing focus on the Canadian market.

Honda’s potential Canada foray signifies a major boost for the nation’s EV ambitions. If realized, this multi-billion dollar investment would further solidify Canada’s position as a leading green supplier and solidify the future of electric vehicles in the country.

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