Honda is reportedly considering the construction of an electric vehicle (EV) plant in Canada, with the possibility of in-house battery production. The decision is expected by the end of 2024, and production at the new site could commence as early as 2028. North America is a crucial market for Honda, accounting for about 40% of its global sales. The company has already committed to manufacturing EVs and batteries at a plant in Ohio from 2026 and is keen to add a second EV factory in North America, potentially in Ontario. Honda might invest as much as 2 trillion yen ($14 billion) in the project. The Canadian government's plan to ban the sale of new gasoline and diesel-fueled passenger vehicles by 2035 and the country's abundant renewable energy sources have reportedly sparked Honda's interest. While Honda's EV sales goals are less aggressive than some rivals, it aims for EVs to constitute 40% of its North American sales in 2030 and 80% in 2035. The company is considering various initiatives for the electrified era.
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