Honda plans to invest $11 billion, with the help of joint venture partners, to build out its electric vehicle efforts in Canada as it prepares for future demand in North America for the automobiles.
The company said Thursday that it has started evaluating the requirements to build an EV plant and a separate EV battery plant in Ontario. It already has two manufacturing plants there that have 4,200 employees. Honda expects to add at least 1,000 more workers for the two new facilities.
The EV plant, once fully operational, will have a production capacity of 240,000 EVs per year and the battery plant will have a capacity of 36 GWh per year.
There’s also plans for a cathode active material and precursor processing plant through a joint venture partnership with POSCO Future M Co. and a separator plant through a joint venture partnership with Asahi Kasei Corp.
China's clean energy sectors gain edge via innovation, supply chain
Xi Story: Ensuring a Better Life for the People
Xi Focus: Xi Stresses Efforts to Modernize Judicial, Procuratorial, Public Security Work
Xi Jinping Delivers Speech at Central Rural Work Conference
Vietnam celebrates 70 years since Dien Bien Phu battle that ended French colonial rule
Xi Focus: Ringing in 2023, Xi Stresses Hard Work, Unity to Make Tomorrow's China a Better Place
World Insights: Xi's Trip to Middle East Significant to Promoting Peace, Cooperation
Xi Stresses Need to Promote Full, Rigorous Party Self
Xi Congratulates Bob Dadae on Re
Cyberstuck! Tesla's 'apocalypse
Chinese Vice Premier Stresses Need to Ensure Smooth Transition of COVID