Honda is building an electric vehicle and battery plant in that country! Its value is 11 billion dollars...

According to a statement from the Japanese manufacturer, Honda plans to build a new electric vehicle factory and battery facility in the Ontario region of Canada.

The company aims to commission the new facility, which will have an investment volume of 15 billion Canadian dollars and an annual production capacity of 240 thousand vehicles, in 2028.

Noting that it is conducting negotiations to receive subsidies from the Canadian government, Honda aims to reduce current costs by 20 percent through local battery production.

Honda President Toshihiro Mibe stated at a press conference in Ontario regarding the new facility plans that the company will accelerate its electrification efforts in Canada.

Mibe said, "We will establish a stable supply system for electric vehicle batteries and make electric vehicles more competitive in terms of cost."

A VOTE OF CONFIDENCE IN CANADA

Speaking at the same meeting in Ontario with Mibe, Canadian Prime Minister Justin Trudeau said that Honda's production plan is the "largest automotive investment in Canadian history."

Trudeau stated that the investment, which he described as "Canada's first comprehensive electric vehicle supply chain," will create more than 1,000 jobs in the country.

Noting that the investment is a "vote of confidence" in Canada's manufacturing sector, Trudeau said, "Together, we are creating well-paying jobs, growing our economy, and keeping our air clean."

Honda Executive Shinji Aoyama stated that Honda aims for all of its North American sales to be electric or fuel-cell vehicles by 2040.

News Source: AA