Honda Motor Co. is considering building an electric vehicle factory in Canada in a project worth about 2 trillion yen ($13.83 billion) that could include its own battery production, a Japanese news group reported on Sunday. Nikki.
According to the report, the project could be one of Honda's largest investments.
She added that the Japanese automaker is considering several potential locations for the plant, including next to an existing auto plant in Ontario. NikkiAdding that Honda hopes to reach a decision by the end of the year and for the new factory to start operating as early as 2028.
Honda did not immediately respond to a request Reuters To comment on the report.
Honda already has plans to start producing and selling electric vehicles in North America in 2026, based on its new Honda e:Architecture.
The automaker, along with partner LG Energy Solution, announced in 2022 that Ohio would be the site of its battery factory, a $4.4 billion joint venture.
In October 2023, Honda and General Motors said they had scrapped a plan to jointly develop affordable electric vehicles, a year after they agreed to work together on a $5 billion effort to try to outsell Tesla.
With information from Reuters.
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