Canada's Finance Minister, Chrystia Freeland, disclosed a meeting with Honda Motor representatives regarding the potential establishment of an electric vehicle (EV) plant in Canada, with an estimated investment of almost 2 trillion yen ($13.7 billion). Freeland emphasized the significance of Honda as a crucial investor in Canada and highlighted the ongoing collaborative efforts between the government and the Japanese automaker. While the specific meeting dates were not specified, various government officials from different departments have engaged in discussions with Honda.
Recent reports from Japan's Nikkei news group suggested that Honda is exploring multiple locations for the EV plant, including proximity to an existing automobile factory in Alliston, Ontario. The decision on the plant's location is expected by the end of 2024, with plans to commence operations as early as 2028. Canada's proactive approach to attracting investments in the electric vehicle supply chain aligns with global efforts to reduce carbon emissions. Prime Minister Justin Trudeau previously emphasized the importance of targeted investments, following substantial subsidies granted to Volkswagen and Stellantis-LG Energy Solution for their planned battery gigafactories in Canada.
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