pHonda's spending blitz includes new EV assembly and battery-cell plants at the company’s Alliston campus, where Honda currently builds the CR-V and Civic. /p
Honda Motor Co. will announce today its plan to build an integrated electric-vehicle battery supply chain in Canada from the ground up with a series of investments in Ontario worth a combined $15 billion, Automotive News Canada has confirmed with multiple sources close to the negotiations between the automaker and governments.
Honda will also invest in two joint-venture supplier plants in yet-to-be-disclosed cities elsewhere in the province. One plant with South Korea-based partner Posco Future M will produce precursor and cathode active material for Honda’s battery cells. The other, headed by Japan-based chemical company Asahi Kasei, will produce battery separators.
Honda’s plans are the most highly integrated of the four battery plants, with the automaker playing an active role in EV assembly, battery manufacturing and battery component production. This will qualify Honda for the new 10 per cent Electric Vehicle Supply Chain investment tax credit proposed in the 2024 federal budget.
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