Honda Motor Co is contemplating constructing an electrical automobile plant in Canada in a close to 2 trillion yen ($13.83 billion in USD) challenge that would probably embody in-house manufacturing of batteries, Japan’s Nikkei information group reported on Sunday.
The challenge might be considered one of Honda’s largest investments, the report stated.
The Japanese automaker is taking a look at a number of potential websites for the plant, together with subsequent to an current vehicle manufacturing facility in Ontario, Nikkei stated, including that Honda expects to make a decision by the tip of the yr and the brand new plant to start out as quickly as 2028.
Honda didn’t instantly reply to a Reuters request for touch upon the report.
Business Minister François-Philippe Champagne didn’t verify the report both, however stated in an announcement to World Information that it factors to Canada’s place as a worldwide chief in attracting main inexperienced investments within the auto sector.
“Experiences about Honda seeking to make a big funding in Canada speaks to the standard of workforce and the energy of our trade,” the minister advised World Information through electronic mail.
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“It’s a testomony to Canada’s rising repute as a inexperienced provider of alternative and world EV chief. We’ll proceed to work tirelessly to place Canada’s auto sector for the twenty first century economic system,” he stated.
Honda already has plans to start manufacturing and gross sales of EVs in North America in 2026, based mostly on its new Honda e:Structure.
The automaker, with accomplice LG Vitality Answer had in 2022 introduced Ohio as the positioning of their deliberate $4.4 billion joint-venture battery plant.
In October 2023, Honda and Basic Motors stated they had been scrapping a plan to collectively develop inexpensive electrical autos (EVs), a yr after they agreed to work collectively in a $5 billion effort to attempt to beat Tesla in gross sales.
–with information from World Information’ Carly Yoshida-Butryn.
