Honda Motors Ltd. President and CEO Toshihiro Mibe announces a new electric-vehicle investment for Honda Canada, as Premier Doug Ford and Prime Minister Justin Trudeau listen in Alliston, April 25, 2024. Screenshot courtesy Premier of Ontario/YouTube.Honda Motors Ltd. President and CEO Toshihiro Mibe announces a new electric-vehicle investment for Honda Canada, as Premier Doug Ford and Prime Minister Justin Trudeau listen in Alliston, April 25, 2024. Screenshot courtesy Premier of Ontario/YouTube.
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'We believe in the power of dreams'

Ontario's place in the electric vehicle (EV) industry has been strengthened with another major investment.

Japanese auto giant Honda officially announced Thursday morning that a $15-billion investment will create Canada's first EV supply chain. The announcement was made at Honda Canada's manufacturing facility in Alliston.

Prime Minister Justin Trudeau and Premier Doug Ford joined federal, provincial, and municipal leaders, plus members of the Japanese business community, in revealing the investment, which includes a new stand-alone battery manufacturing plant in Alliston. In all, four new facilities will be built.

Honda Motors President and CEO Toshihiro Mibe says the automaker is eager to contribute to the growing industry.

"We believe in the power of dreams, driven by the dreams of every Honda associate," said Mibe. "We want to continue to be a mobility company with the power to support everyone in Canada."

The supply chain will be completed with Honda's plans to create a cathode active material and precursor (CAM/pCAM) processing plant through a joint venture partnership with the South Korean firm POSCO Future M Co. Ltd, and a separator plant through a joint venture partnership with Asahi Kasei Corporation, another Japanese firm.

Trudeau said Canada's creation of a climate for business helped make investments like this possible.

"Today, Honda is making Canadian automotive history," said Trudeau. "With this announcement, we will be investing to create Canada's first comprehensive electric-vehicle supply chain from start to finish."

With similar operations across the province, Ford said Ontario is now the place to be as the auto industry moves into the EV chapter.

"The auto sector has been such a huge part of our province's economy," said Ford. "It's been a source of pride for workers in communities from Alliston to Aurora, Oakville to Oshawa, Tecumseh to Thunder Bay, and everything in between."

Once all the pieces are operational, the new plant will produce 240,000 vehicles a year. The target date is 2028.

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