Honda is reportedly considering a substantial investment of up to $14 billion in a new electric vehicle (EV) plant in Canada, making it one of the company's most significant ventures. Potential locations, including Ontario near an existing auto plant, are under consideration, with the facility expected to be operational by 2028. This would be Honda's second plant in North America, following a U.S. factory under construction in Ohio, set to be completed by the end of 2024.
The move aligns with Canada's Electric Vehicle Availability Standard, which aims to ban the sale of new internal combustion engine vehicles by 2035, mirroring global trends in regions such as the European Union and U.S. states like California, Maryland, and New Jersey. The investment reflects Honda's strategic response to the increasing demand for electric vehicles, in line with the global push toward sustainable and zero-emission transportation. Despite canceling a partnership with General Motors in October, Honda remains committed to the electric market and plans to enter the electric motorcycle market, aiming to launch over 10 fully electric motorcycle units by 2025 and achieve up to 3.5 million annual sales by 2030.
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