{"id":46827,"date":"2024-04-26T09:53:16","date_gmt":"2024-04-26T08:53:16","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=46827"},"modified":"2024-04-26T09:53:16","modified_gmt":"2024-04-26T08:53:16","slug":"honda-to-develop-15bn-ev-hub-and-battery-plant-in-canada","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/honda-to-develop-15bn-ev-hub-and-battery-plant-in-canada\/46827\/","title":{"rendered":"Honda to develop $15bn EV hub and battery plant in Canada"},"content":{"rendered":"

Honda has revealed it will invest $15bn to build an EV production and EV battery plant in Ontario, Canada.<\/h2>\n

The company unveiled plans to create an innovative and environmentally responsible EV value chain in Canada.<\/p>\n

The multi-billion dollar investment will cover all aspects of the value chain, helping Honda accelerate production capabilities through a stand-alone battery plant that will produce the cells essential for the separate EV production facility.<\/p>\n

The Honda EV value chain will also include a cathode active material and precursor (CAM\/pCAM) processing plant through a joint venture with POSCO Future M Co., Ltd. And a separator plant in collaboration with Asahi Kasei Corporation.<\/p>\n

The company has begun evaluating the investment and is working to complete negotiations with its joint partners, with the work expected to be finalised in the next six months.<\/p>\n

Commenting on Honda\u2019s Canadian EV value chain plans, Toshihiro Mibe, Global CEO of Honda, said: \u201cHonda is making progress in our global initiatives toward the realisation of our 2050 carbon neutrality goal.<\/p>\n

In North America, following the initiative to establish our EV production system capability in the US, we will now begin formal discussions toward the establishment of a comprehensive EV value chain here in Canada, with the support of the governments of Canada and Ontario.<\/p>\n

\u201cWe will strengthen our EV supply system and capability with an eye toward a future increase in EV demand in North America.\u201d<\/p>\n

Overview of Honda\u2019s EV value chain plans<\/h3>\n

The Honda EV value chain is expected to open in 2028 \u2013 with the battery plant estimated to have a 36 GWh annual capacity and the EV production facility manufacturing 240,000 vehicles per year.<\/p>\n

The new EV battery plant will create 1,000 new jobs on top of the 4,200 jobs currently at the EV production hub.<\/p>\n

\"\"
\u00a9 shutterstock\/Darren Brode<\/figcaption><\/figure>\n

Honda says the new facilities could also create a large amount of \u2018spin-off\u2019 jobs, such as in the construction sector.<\/p>\n

Jean Marc Leclerc, President and CEO of Honda Canada Inc., added: \u201cHonda of Canada Manufacturing is one of the premier automotive manufacturing facilities in the world, and for nearly forty years, our work has been guided by determination, innovation, and a relentless drive to evolve.<\/p>\n

\u201cToday\u2019s announcement is a historic investment by a manufacturer in the Canadian auto industry.\u00a0It proudly honours the highly skilled associates who have earned a global reputation for manufacturing excellence and represents Honda\u2019s recognition of the long-term attractiveness of the Canadian electric vehicle manufacturing ecosystem.\u201d<\/p>\n

Building on US success<\/h3>\n

Honda\u2019s plans for an EV production facility and battery plant in Canada follow the announcement of an advanced EV hub in Ohio.<\/p>\n

The company has invested $700m to retool existing plants in the region to support EV manufacturing.<\/p>\n

This is supplemented by an additional $4.4bn investment to create an EV battery plant in partnership with LG Energy Solution.<\/p>\n

The Ohio EV hub is set to open in late 2025, and the knowledge gained will be shared with the EV production facility and EV battery plant in Canada.<\/p>\n

In addition to boosting manufacturing capabilities, Honda says it will also invest in securing sustainable supply chains for raw materials<\/a> and battery recycling to cover all aspects of the value chain internally.<\/p>\n

Honda aims to become carbon neutral across all its products and activities by 2050 and for BEVs and FCEVs to represent 100% of vehicle sales by 2040<\/a>.<\/p>\n

The company\u2019s latest investments in North American EV production signal a major milestone in achieving these goals.<\/p>\n","protected":false},"excerpt":{"rendered":"

Honda has revealed it will invest $15bn to build an EV production and EV battery plant in Ontario, Canada.<\/p>\n","protected":false},"author":15,"featured_media":46828,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[24425],"tags":[24203,24412,24163],"acf":[],"yoast_head":"\nHonda to develop $15bn EV hub and battery plant in Canada<\/title>\n<meta name=\"description\" content=\"Honda has revealed it will invest $15bn to build an EV production and EV battery plant in Ontario, Canada.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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