TOKYO, Apr 26 (News On Japan) –
Honda has unveiled plans to assemble a manufacturing facility devoted to electrical automobiles (EVs) in Ontario, Canada, as a part of its broader technique to completely transition to EVs by 2040.
The new facility will deal with assembling full EVs and manufacturing batteries, in collaboration with Asahi Kasei by a three way partnership. The building of the EV manufacturing facility is focused for completion and operational readiness by 2028.
The funding for this large venture consists of contributions from the three way partnership companions and substantial subsidies from the Canadian authorities, amounting to a complete anticipated funding of 1.6 trillion yen.
Honda’s determination to increase its manufacturing capabilities in North America by way of this new facility underscores its dedication to enhancing its competitiveness within the EV market, aligning with its long-term electrification objectives.
Source: ANN