The project includes up to $5 billion in public funding and is the latest in a string of EV-related announcements, many of which also saw an injection of government money.Honda Canada says its $15-billion project will include the retooled plant, an electric vehicle battery plant in close proximity, as well as two key battery parts facilities located elsewhere in Ontario.In October 2023, Umicore Precious Metals Canada Inc.
The German automaker announced in April 2023 its plans to build a $7-billion EV battery plant in southwestern Ontario, operated by its battery company, PowerCo. The plant will be built on a 1,500-acre site with construction set to begin this year, and production expected to begin by 2027. The plant is expected to produce enough batteries for up to one million electric vehicles per year.
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