Honda to set up $11 bln electric vehicle, battery plants in Canada
Operations are targeted to start by 2028, with annual production capacity estimated to be a maximum of 240,000 EVs and 36 gigawatt-hours for batteries.
Support from the federal Canadian government and Ontario could total around C$5 billion, Trudeau's office said. Details of the investment are due to be finalised later this year.
It also announced a plan to work with South Korean steel giant POSCO , opens new tabfor the production of battery cathode materials, and with Asahi Kasei to make separators.
- CE and Simon would've been in discussions with Honda, POSCO to supply the raw materials, the timing is just right! Expecting a deal announcement anytime now. When part of this supply chain, expect permits and road funding from government to be guaranteed.
not advice.
Honda to set up $11 bln electric vehicle, battery plants in...
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