Honda Commits to E.V.s With Big Investment in Canada

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Business|Honda Commits to E.V.s With Big Investment in Canada https://www.nytimes.com/2024/04/25/business/honda-electric-vehicles-canada.html Advertisement SKIP ADVERTISEMENT The Japanese automaker, which has been slow to sell electric vehicles, said it would invest $11 billion to make batteries and cars in Ontario.
Credit...Maddie McGarvey for The New York Times April 25, 2024Updated 12:17 p.m. ET Honda Motor on Thursday said it and several suppliers would invest $11 billion to build batteries and electric cars in Ontario, a significant commitment from a company that has been slow to embrace the technology.
But the investment adjacent to the company’s factory in Alliston, Ontario, near Toronto, is a shift in direction, raising the possibility that Honda and other Japanese carmakers could use their manufacturing expertise to push down the cost of electric vehicles and make them affordable to more people.
The factory in Ontario will be able to produce as many as 240,000 electric vehicles a year when it begins operations in 2028, Honda said.