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Published 2 months ago

Honda to build electric vehicles and battery plant in Ontario: sources

  • Honda Canada will construct an electric vehicle battery plant near its Alliston facility, planning to produce fully electric vehicles. The plant will be the third in Ontario, following Volkswagen and Stellantis LG.
  • Honda's deal with the government for the electric vehicle chain will involve capital commitments and tax credits, not production subsidies like other deals.
  • Federal Finance Minister Chrystia Freeland introduced a 10% investment tax credit for Electric Vehicle Supply Chain related buildings, with an additional 30% credit for Clean Technology Manufacturing investments.
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