Finance Minister of Canada discusses potential large-scale Electric Vehicle project with Honda executives

The photo depicts a Honda employee hard at work on the CR-V line at the company’s Alliston, Ontario plant. Finance Minister Chrystia Freeland recently shared insights about her meeting with Honda Motor representatives regarding a potential $13.7 billion electric vehicle plant in Canada. The Canadian government has been actively engaging in discussions with Honda representatives across various departments, highlighting the importance of the relationship between the two parties. Japan’s Nikkei news group shared that the automaker is considering multiple locations for the plant, with a decision expected by the end of 2024 and production to commence as early as 2028. As Canada pursues investments in the EV supply chain to promote sustainability, Prime Minister Justin Trudeau has emphasized targeted investments in the automotive sector. Honda, Japan’s second-largest automaker, has also announced plans to introduce a new electric vehicle series in 2026. Collaborating with LG Energy Solution, Honda unveiled Ohio as the site for a $4.4 billion joint venture battery plant in 2022, marking its commitment to expanding its electric vehicle offerings.