CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

LATEST MAGAZINE

CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

CANADA'S LEADING INFORMATION SOURCE FOR THE METALWORKING INDUSTRY

 Federal and Ontario government to announce blockbuster Honda EV investment: Globe and Mail

Share This Post
Ontario premier Doug Ford says the largest deal in Canadian automotive history will be announced this week. The Globe and Mail reports it will be Honda announcing a multibillion dollar investment in an EV supply chain in the province. PHOTO courtesy Honda.

The Globe and Mail is reporting that the federal government and Ontario will announce a multibillion-dollar deal this week with Honda Motor Co. Ltd. that would see the company build a comprehensive electric vehicle chain in the province.

The deal with Honda includes a standalone battery manufacturing and a retooled car assembly plant, as well as facilities for both cathode materials and separator components, according to two sources, the Globe and Mail has posted. It adds that the battery and assembly plants will be in Alliston, Ont., where the company already manufactures vehicles. The other two will be at another location in Ontario, according to the Globe and Mail’s sources/

Speaking at a First Nations conference in Toronto on Monday morning, Ontario Premier Doug Ford said the size of the investment will surpass other electric-vehicle deals in the province.

“This week, we’ve landed a new deal. It’ll be the largest deal in Canadian history. It’ll be double the size of Volkswagen. So stay tuned, we’ll be announcing it this week,” he said.

Honda Canada is expected to make its official announcement in Alliston, Ont., on Thursday, according to CBC News.

“This may be Honda’s biggest bet anywhere on the planet,” Flavio Volpe, the president of the Automotive Manufacturers Association of Canada, told CBC News. He called it a “double down” on Canada and “an announcement that I think will be heard around the world.”

Share This Post


Recent Articles



Wordpress Social Share Plugin powered by Ultimatelysocial
error

Enjoy this post? Share with your network