Honda Motor Company is considering building an electric vehicle plant in Canada in a near 2 trillion yen ($13.83 billion) project that could possibly include in-house production of batteries, Japan’s Nikkei newsgroup reported on Sunday.
The project could be one of Honda’s largest investments, the report said. The Japanese automaker is looking at multiple potential sites for the plant, including next to an existing automobile factory in Ontario, Nikkei said, adding that Honda expects to come to a decision by the end of the year and the new plant to start as soon as 2028.
Honda already has plans to begin production and sales of EVs in North America in 2026, based on its new Honda e:Architecture. The automaker, with partner LG Energy Solution had in 2022 announced Ohio as the site of their planned $4.4 billion joint-venture battery plant.