Honda to set up $11 bln EV production base in Canada [Reuters]
POSCO Holdings Inc. American Depositary Shares (Each representing 1/4th of a share of) (PKX)
US:NYSE Investor Relations:
posco.com/homepage/docs/eng5/jsp/invest/archive/s91b6010071l.jsp
Company Research
Source: Reuters
The investment, due to be officially unveiled by company executives and Canadian Prime Minister Justin Trudeau on Thursday, signals Honda's expectation for more growth in demand for EVs in North America. Like other Japanese car companies, Honda has been a relative latecomer to EVs, and is now on a push to better compete with fast-moving Chinese rivals. Report this ad 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. Although EV demand has slowed globally, Honda executive Shinji Aoyama told reporters the EV supply network would help Honda achieve its goal for all of its North American sales to be either EVs or fuel cell vehicles by 2040. Honda said it expects to contri
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PKX
Sec Filings
- 5/2/24 - Form 6-K
- 4/29/24 - Form 20-F
- 4/25/24 - Form 6-K
- PKX's page on the SEC website