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.
According to the report, the project could emerge as Honda's most significant investment.
The Japanese automaker, Honda, is reportedly considering several locations for a new-
manufacturing plant, including the area adjacent to an existing automobile factory in Ontario, according to Nikkei.
The company anticipates a definitive decision by year-end, with operations slated to commence as early as 2028.
Reuters reached out to Honda for a response but did not receive an immediate response.
Honda plans to release EVs based on the upcoming Honda e Architecture in 2026, starting in North America.
In 2022, the automaker announced its planned $4.4 billion joint-venture battery-
plant in Ohio, in partnership with LG Energy Solution. In October 2023, both Honda and General Motors announced their-
decision to terminate their partnership for the development of affordable electric vehicles (EVs). This decision was-
made one year after their initial agreement to collaborate in a $5 billion initiative aimed at surpassing Tesla's sales figures.