Honda planning to expand its electric vehicle efforts in Canada, Toyota expands in Indiana
Release time：2024-05-08 08:01:44 Source：International Identities news portal
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.
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