Honda Plans $14 Billion Investment for EV Production in Canada

Honda Motor Co is mulling over a nearly 2 trillion yen ($13.83 billion) project for an electric vehicle plant in-

Canada, Nikkei reported. This may include battery production.

[{"selector":"#anim-7295ab07-467d-4d17-a591-272639228a94 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-48.76334892946369%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

According to the report, the project could emerge as Honda's most significant investment.

[{"selector":"#anim-1440ad2a-de17-41af-827c-8b1ab5a29e1f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(41.98910371294404%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

The Japanese automaker, Honda, is reportedly considering several locations for a new-

[{"selector":"#anim-ab42c94e-b253-4e63-9075-a639da8b5acf [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(34.09565175654395%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

manufacturing plant, including the area adjacent to an existing automobile factory in Ontario, according to Nikkei.

[{"selector":"#anim-edcb8a16-c90b-4744-a9aa-e38bc7edd56b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(35.07141117165048%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

The company anticipates a definitive decision by year-end, with operations slated to commence as early as 2028.

[{"selector":"#anim-cb9f1dc2-bf4c-4bc3-a62c-5094b8633a5b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-47.71484364760315%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Reuters reached out to Honda for a response but did not receive an immediate response.

[{"selector":"#anim-b1b9d68b-b9e9-45fa-9b12-1d932f10e99d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(39.02631585960638%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

Honda plans to release EVs based on the upcoming Honda e Architecture in 2026, starting in North America.

[{"selector":"#anim-6b0739f5-0510-423f-8a39-69a0755f5f42 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-42.19238037498531%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

In 2022, the automaker announced its planned $4.4 billion joint-venture battery-

[{"selector":"#anim-72c959eb-b008-4153-b827-8162110fac1c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-60.36155299655888%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

plant in Ohio, in partnership with LG Energy Solution. In October 2023, both Honda and General Motors announced their-

[{"selector":"#anim-50db1ab9-df85-4f85-b12d-f7619b571ba9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(39.9915707954783%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

decision to terminate their partnership for the development of affordable electric vehicles (EVs). This decision was-

[{"selector":"#anim-14cf6acd-20dd-49bc-b349-99ada86a29a2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-48.769531154002955%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]

made one year after their initial agreement to collaborate in a $5 billion initiative aimed at surpassing Tesla's sales figures.

[{"selector":"#anim-4b47192f-afdc-4776-83e5-c7df4a92acf5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(54.021176177382614%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2500,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}]