OTTAWA — Canada’s Finance Minister Chrystia Freeland stated on Thursday she met with Honda Motor representatives about locating a potential $13.7 billion electric vehicle plant within the nation.
“I had a gathering with Honda and it is an organization that has been an important investor in Canada,” Freeland instructed reporters in Toronto, including that different authorities officers additionally had conferences with the Japanese automaker.
“That is an important relationship, and our work with them is ongoing,” Freeland stated, with out specifying when the conferences befell.
Freeland added that there had been varied conferences between Honda and authorities officers in numerous departments.
On Sunday, Japan’s Nikkei information group reported that Honda is a number of potential websites for the plant, together with subsequent to an current vehicle manufacturing unit in Alliston, Ontario.
The report stated Honda expects to decide by the top of 2024 and produce the brand new facility on-line as early as 2028.
Canada has wooed firms concerned in all ranges of the EV provide chain to safeguard the way forward for its manufacturing heartland in Ontario because the world seeks to chop carbon emissions.
Prime Minister Justin Trudeau final 12 months stated that Canada was on the lookout for extra “focused” investments after the federal government gave hefty subsidies to Volkswagen and Stellantis-LG Power Resolution for his or her deliberate battery gigafactories.
Honda, Japan’s second-biggest automotive maker, on Tuesday at CES 2024 announced plans to launch a new electric vehicle series from 2026, because it performs catch-up with international rivals within the shift to battery-powered vehicles.
Honda has been sluggish to step up gross sales of electric vehicles. The automaker, with associate LG Power Resolution , in 2022 introduced Ohio as the positioning of a deliberate $4.4 billion three way partnership battery plant.