Honda to Spend $11 Billion on Electric Vehicle Strategy in Canada [BNN Bloomberg (Canada)]
Stellantis N.V. Common Shares (STLA)
Company Research
Source: BNN Bloomberg
dollars of financial aid from government, as the Japanese automaker seeks to tap long-term demand in the region. The figure includes investment by joint venture partners, and the aim is to start producing EVs in 2028, Honda said. The company will manufacture 240,000 vehicles a year at the facility, while a standalone battery plant in Alliston, Ontario — a town that's a little more than an hour's drive north of Toronto where it currently produces gasoline-powered Honda CR-V and Civic models. The battery plant will have a capacity of 36 gigawatt hours. The push to develop the battery supply chain will also see Honda begin talks with South Korea's POSCO Future M Co. for a cathode materials facility, and it plans to partner with Japan's Asahi Kasei Corp. on separator production. Bloomberg News reported details of Honda's plan earlier Thursday. For Honda, it's part of a long-term bet on consumer demand for electric vehicles in North America and pushes it toward its goal of having e
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