{"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":"
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
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