VWAGY - Honda's Bet On Canadian EV Hub: Reportedly Plans $11B Investment | Benzinga
Honda Motor Co Ltd (NYSE:HMC) will reportedly invest CA$15 billion ($11 billion) to establish electric vehicle manufacturing facilities north of Toronto, with substantial financial support from Canadian authorities.
Honda executives, alongside Canadian Prime Minister Justin Trudeau and Ontario Premier Doug Ford, will unveil the investment in Alliston, Ontario.
The decision follows close negotiations between Honda and the Canadian government, according to a report from Bloomberg.
Honda’s move reflects a strategic commitment to meet the growing demand for electric vehicles in North America.
The company, known for its hybrid cars in ...