Honda recently announced plans to build an electric vehicle supply chain complex in Ontario, Canada, with the goal of starting production in 2028. After full production, the annual output of electric vehicles will reach 240,000 units.
Specifically, this comprehensive project includes 4 sub-projects:
A Honda electric vehicle assembly plant;
A Honda electric vehicle battery factory with an annual production capacity of 36GWh;
A joint venture for cathode active materials and precursors with Korean battery materials company POSCO FUTURE M;
A separator factory jointly owned by Asahi Kasei.
In these four projects, the total investment by Honda and its partners will reach 15 billion Canadian dollars (Note: currently about 79.5 billion RMB). Honda has begun evaluating the scope of its investment and finalizing negotiations with joint venture partners, with formal construction plans expected to be released within the next six months.
The two Honda-operated plants will create at least 1,000 additional jobs.
The Canadian federal and Ontario provincial governments will each provide Honda with financial support of CAD 2.5 billion (currently approximately 13.25 billion RMB), including direct incentives and indirect tax credits.
