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Honda plant in the country: a meeting next week

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Since 2021, Honda has set itself the ambitious goal of becoming 100% electric in its automotive segment by 2040, and has planned colossal investments to achieve this.

Radio-Canada

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A meeting is planned this week between Honda representatives and senior Canadian officials for “formal talks” as the Japanese automaker considers building its next electric vehicle factory in Canada, a government source familiar with the matter said Monday .

Estimated at nearly $18.4 billion, the project would be one of Honda's largest and could include the production of its own batteries by 2028, the Japanese daily Nikkei said on Sunday.

Other sources told CBC News that a preliminary meeting already took place in December between senior Honda officials and the federal Minister of Innovation, Science and Technology. ;Industrie, François-Philippe Champagne.

Several sites for the construction of this factory would be considered by Honda, including a site adjacent to its existing facilities in Alliston, Ontario.

A Honda spokesperson did not confirm the information reported by the Nikkei newspaper, but told CBC that the company was studying a number of initiatives to #x27;achieve the ambitious goal of becoming 100% electric in its automotive segment by 2040.

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The Japanese company should make a decision by the end of the year to put it into production in 2028, again according to Nikkei.

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Federal Minister of Industry, François-Philippe Champagne.

For his part, Minister Champagne welcomed this information which demonstrates Canada's growing reputation as an ecological supplier of choice and world leader in electric vehicles.

News that Honda is considering a major investment in Canada is a testament to the quality of our workforce and the strength of our industry.

A quote from François-Philippe Champagne, Federal Minister of #x27;Innovation, Science and Industry

Canada has made considerable efforts in recent years to attract players in the electric vehicle sector, touting its tax incentives, clean energy and many rare minerals.

In December, the federal government confirmed that all new passenger vehicles sold in Canada in 2035 must be electric.

Canada's strategy is in line with that of its largest trading partner, the United States, whose major climate plan called the Inflation Reduction Act (IRA) provides for billions of dollars in subsidies for green industries. p>Open in full screen mode

Prime Ministers Justin Trudeau and François Legault as well as Ministers François-Philippe Champagne and Pierre Fitzgibbon are present at this press conference of the Swedish company Northvolt.

Honda plans to build its first electric vehicle factory in North America in the state of Ohio in partnership with LG Energy with production planned for 2026.

LG has already partnered with Stellantis, another automaker, to build a $5 billion battery factory in Windsor, Ontario. This is one of several major investments in electric vehicles that have been announced in recent months in Canada, most of which are associated with significant subsidies.

< p class="StyledBodyHtmlParagraph-sc-48221190-4 hnvfyV">Volkswagen is also building a battery plant in St. Thomas, Ontario, and Northvolt is building one about 30 kilometers east of Montreal.

The three factories are expected to cost tens of billions of dollars in subsidies linked largely to production volumes.

Honda announced in 2022 that it would invest $1.38 billion to upgrade its Alliston plant, in part to prepare it to become the main plant of its CR-V hybrid crossover vehicle.

The company is only this year launching the sale of its first fully electric vehicle in Canada, the Prologue , with limited quantities expected during the first year of production.

With information from Agence France-Presse and The Canadian Press< /em>

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