TOKYO - Honda Motor plans to build an EV production base in Ontario, it said on Thursday, a C$15 billion investment that will mark the Japanese automaker's largest ever in Canada.
In Canada, it intends to produce essential EV components through joint ventures with companies such as Asahi Kasei, setting up a production system that covers everything from materials to finished vehicles.Operations are targeted to start by 2028, with annual production capacity estimated to be a maximum of 240,000 EVs and 36 gigawatt-hours for batteries.
The EV and battery plants will be constructed adjacent to existing four-wheeled vehicle and engine plants and the total workforce will increase by around 1,000 people from 4,200 now, Honda said. Details of the investment are due to be finalised by autumn and the Canadian and Ontario governments are expected to lend support through tax breaks and subsidies.North America accounts for approximately 30% of Honda's global four-wheeled vehicle sales.
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