Honda to build $11 billion electric vehicle hub in Canada

A Japanese automaker announced plans to invest $11 billion in Ontario, Canada to create a “comprehensive EV value chain.” The investment will involve new assembly and battery plants to support the production of all-electric and fuel cell-powered vehicles. Vehicle production is scheduled to begin in 2028 with an annual capacity of 240,000 units. The investment aligns with the automaker’s goal of exclusively offering all-electric and fuel cell-powered vehicles by 2040. The Prime Minister of Canada described this investment as the largest ever for the country’s automotive industry. This is a developing story.