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    Nikkei reports Honda’s potential $14 billion proposal for EV production in Canada

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    EV production in Canada

    EV production in Canada: Honda (7267.T) is considering building an electric vehicle factory in Canada as part of a roughly 2 trillion yen ($13.83 billion) project that would include producing its own batteries. This is a possibility, Japanese news group Nihon Keizai Shimbun reported on Sunday.

    The project could be one of Honda’s largest investments, the report said. The Nikkei Shimbun reported that the Japanese automaker is considering several potential sites for the factory, including next to an existing car factory in Ontario, and Honda expects to make a decision by the end of the year, with plans to move forward soon in 2028.

    EV production in Canada

    EV production in Canada He added that the new factory is scheduled to start operating. Honda did not immediately respond to Reuters’ request for comment on the report. Honda already has plans to begin producing and selling electric vehicles based on the new Honda e:Architecture in North America in 2026.

    The company, along with partner LG Energy Solutions (373220.KS), announced Ohio as the location for a $4.4 billion joint venture battery factory planned for 2022.

    EV production in Canada

    In October 2023, Honda and General Motors (GM.N) agreed to collaborate on a $5 billion project to beat Tesla (TSLA) in affordable electric vehicles (EVs). announced that it would abandon plans to jointly develop the ). O) I work in sales.

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