Honda to Spend $11 Billion on Electric Vehicle Strategy in Canada

Honda Motor Co. will spend C$15 billion ($11 billion) to build out its electric-vehicle supply chain in Canada, with billions of dollars of financial aid from government, as the Japanese automaker seeks to tap long-term demand in the region.

The figure includes investment by joint venture partners, and the aim is to start producing EVs in 2028, Honda said. The company will manufacture 240,000 vehicles a year at the facility, while a standalone battery plant in Alliston, Ontario — a town that’s a little more than an hour’s drive north of Toronto where it currently produces gasoline-powered Honda CR-V and Civic models. The battery plant will have a capacity of 36 gigawatt hours.