Honda (finally) announces CAD15bn BEV investment in Canada [Yahoo! Finance]
ASAHI KAISEI CRP UNSP/ADR (AHKSY)
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Source: Yahoo! Finance
a battery electric vehicle (BEV) plant in Alliston in Ontario with annual capacity for 240,000 units, along with a battery plant with capacity for 36 GWh per year. The announcement was made at a press conference in Ontario attended by Honda CEO Toshihiro Mibe, Canadian prime minister Justin Trudeau and Ontario premier Doug Ford, along with other company and government officials. The investment, totalling C$15bn (US$11bn), was described as the largest automotive investment in Canadian history. The new factories would be built next to Honda's existing plant in Alliston, just north of Toronto, which produces Civic and CR-V for North America. The investment also included a battery cathode materials joint venture with South Korea's Posco Future M Company and a battery separator plant with Japan's Asahi Kasei Corporation . The location of these plants had yet to be decided. BEV production was scheduled to begin in 2028. Honda said it expected the new investment would directly cr
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