Honda Motor Co is contemplating constructing an electric vehicle plant in Canada in a close to 2 trillion yen ($13.83 billion) mission that would probably embody in-house manufacturing of batteries, Japan’s Nikkei information group reported on Sunday.
The mission might be one in every of Honda’s largest investments, the report stated.
The Japanese automaker is a number of potential websites for the plant, together with subsequent to an present vehicle manufacturing unit in Ontario, Nikkei stated, including that Honda expects to make a decision by the top of the 12 months and the brand new plant to begin as quickly as 2028.
Honda didn’t instantly reply to a Reuters request for touch upon the report.
Honda already has plans to start manufacturing and gross sales of EVs in North America in 2026, primarily based on its new Honda e:Structure.
The automaker, with associate LG Power Answer had in 2022 introduced Ohio as the positioning of their deliberate $4.4 billion joint-venture battery plant.
In October 2023, Honda and General Motors stated they have been scrapping a plan to collectively develop reasonably priced electrical automobiles (EVs), a 12 months after they agreed to work collectively in a $5 billion effort to attempt to beat Tesla in gross sales. ($1 = 144.6500 yen)