Canadian officials are in discussions with representatives from Honda Motor regarding the potential construction of a nearly 2 trillion yen (US$13.9 billion) electric vehicle (EV) plant in the country. The talks, taking place in Ottawa, involve various federal departments, with Honda reportedly considering multiple sites for the plant, including one adjacent to an existing 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. While Honda did not confirm the meeting with Canadian officials, the government has actively engaged with major potential investors, emphasizing a strong relationship with Honda.
Canada has been actively attracting investments across the EV supply chain, offering support to companies like Volkswagen and Stellantis-LG Energy Solution for their planned battery gigafactories. The government considers these initiatives as anchors to strengthen the country's EV supply chain and secure its manufacturing sector's future, particularly in Ontario. Honda, Japan's second-largest carmaker, has been relatively slower in transitioning to electric vehicles, but its potential investment in a significant EV plant in Canada signals a strategic move toward electric mobility. In 2022, Honda and LG Energy Solution announced plans for a joint venture battery plant in Ohio.
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