In Uncategorized

Honda Motor Co. is reportedly considering an investment of approximately $13.8 billion (US) to build an electric vehicle (EV) factory in Canada, with the project potentially including the independent production of batteries.

If confirmed, this project would mark one of Honda’s largest investments in its history. However, Honda has not officially commented on the matter, only stating there is currently no information to disclose. As Japan’s second-largest automaker, Honda has been relatively slow to enter the electric vehicle market compared to other automakers.

In a statement to Reuters, a spokesperson for the Canadian Department of Industry noted that reports of Honda’s potential significant investment in Canada highlight the country’s highly skilled workforce and robust industrial capabilities.

According to Honda’s data, electric vehicles accounted for less than 0.5% of Honda’s global sales of approximately 2.8 million in the first nine months of 2023.

Nikkei News reports that Honda is exploring several potential factory locations, including near its existing automotive plant in Ontario. Honda is expected to make a final decision by the end of this year, with the new facility potentially starting production as early as 2028.

Previously, Honda announced plans to commence production and sales of electric vehicles in North America based on its new Honda e:Architecture platform starting in 2026. In collaboration with partner LG Energy Solution, the company also revealed in 2022 the construction of a $4.4 billion (US) battery factory in Ohio.

It is noteworthy that in October 2023, Honda announced the abandonment of its joint development plan for budget-friendly electric vehicles with General Motors. Earlier, both companies had agreed to invest $5 billion (US) in the collaboration to compete against Tesla.

Source: WeChat Official Account—锂电前沿

Disclaimer: The content provided above is intended solely for educational and reference purposes. The original author retains the copyright to the articles, and their reproduction is aimed at facilitating learning and knowledge-sharing. If there are any concerns regarding copyright infringement, please contact us for immediate removal. We value the intellectual property rights of the original creator and encourage readers to engage with the original work.

Recent Posts
Contact Us

We're not around right now. But you can send us an email and we'll get back to you as soon as possible.

Start typing and press Enter to search

Translate »