Related: As the federal government plans to end the sale of gas-powered passenger vehicles by 2035, Honda is reportedly considering making an $18.4-billion investment to build electric vehicles in Canada. Abigail Bimman looks at the small Ontario town that could be at the centre of the deal, and what it could mean for Canada's EV future – Jan 8, 2024
The Canadian Press has learned that the federal and Ontario governments will make the announcement this week. Senior sources with information on the project confirmed the deal but were not yet able to give any dollar figures.Ontario Premier Doug Ford this morning told a First Nations conference that there will be an announcement this week about a new deal that he said will be double the size of a Volkswagen deal announced last year.Meta says you can’t turn off its new AI tool on Facebook, Instagram
The Honda facility will be the third electric vehicle battery plant in Ontario, following in the footsteps of Volkswagen and a Stellantis LG plant in Windsor, Ont., and while those two deals involved billions of dollars in production subsidies as a way of competing with the United States’ Inflation Reduction Act subsidies, Honda’s is expected to involve capital commitments and tax credits.
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Honda to trim U.S. dealer profit marginspThe company is also making some reductions and changes in marketing, advertising and service payments as it adjusts spending for the shift to electric vehicles./p
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