Honda recently made a significant announcement regarding its plans to invest $11 billion in building four new electric vehicle (EV) plants in Canada. This investment marks a major milestone for Honda as it will be the company’s first EV supply chain established in Canada.
The plans include constructing a new Honda EV plant and standalone EV battery factory in Alliston, Ontario. Once operational, the EV facility is expected to produce 240,000 EVs annually, while the battery plant will have a capacity of 36 GWh per year. Production is set to begin in 2028.
In addition to these new facilities, Honda is also building a comprehensive EV supply chain in Ontario. This includes the construction of a cathode active material and precursor plant in joint ventures with POSCO Future M and Asahi Kasei Corp.
Canadian Prime Minister Justin Trudeau praised Honda’s investment as a “game changer for manufacturing in Canada.” Honda has set a goal for 100% of its vehicle sales to be EVs and fuel cell electric vehicles (FCEVs) by 2040.
Furthermore, Honda is investing $700 million to retool three Ohio plants for future EV and EV battery production. The company’s first electric SUV, the Honda Prologue, was launched earlier this year with a starting price of $47,400 and offering up to 296 miles of range. With a federal tax credit, the starting price of the Prologue can be as low as $39,900.
Lace Woelfer, VP of Honda America National Auto Sales, praised the Prologue as a sporty and stylish electric SUV, highlighting Honda’s commitment to sustainable mobility and innovation in the EV market.