After all, Honda is joining the EV race after announcing a major $11 billion (C$15 billion) investment to build four new EV factories in Canada. This historic investment will be used to build Canada’s first electric vehicle supply chain, enabling the production of 240,000 Honda electric cars for the U. S. and Canada each year.
Honda has announced its largest-ever investment in Canada as it prepares for the era. Plans for a new Honda vehicle plant and a battery plant for autonomous vehicles in Alliston, Ontario.
Once fully compliant with the national standard, the electric vehicle plant will produce 240,000 electric vehicles per year, while its battery factory will have a capacity of 36 GWh per year. Production is expected to begin in 2028.
According to a press release from the Prime Minister’s Office, Honda will build Canada’s first complete electric vehicle supply chain. The order will include four new production facilities in Ontario.
In addition to the electric vehicle plant and battery plant, Honda will build a cathode active tissue and precursor plant in a joint venture with POSCO Future M. A, while one is planned with Asahi Kasei Corp.
Justin Trudeau, Prime Minister of Canada, said Honda’s investment is a “game-changer for production in Canada. “With a full source chain, Honda expects to increase prices by more than 20%.
“With a full supply chain, Honda expects to increase prices by more than 20 percent. “
There you go. I fully accept that Honda is looking for an effective and cost-effective way to manufacture BEVs at moderate costs (while Toyota continues to complain about it).
So the Prologue is on sale now. Its release on the road will depend entirely on how well Honda markets itself. I’d prefer a Prologue to an ID. 4.
Honda aims for electric cars and FCEVs to account for 100 percent of vehicle sales by 2040. Honda has also invested $700 million to remodel 3 Ohio plants to serve as hubs for long-term production of electric cars and EV batteries.
Meanwhile, Honda’s first electric SUV, the Honda Prologue, went on sale earlier this year. Starting at $47,400 (not including destination), the Prologue offers up to 296 miles of range.
With the $7,500 federal tax credit, the initial value of the Prologue can be reduced to $39,900 (not including destination).
Lace Woelfer, vice president of Honda America National Auto Sales, said the Honda Prologue hits the “sweet spot” as a sporty, modern electric SUV.
Peter Johnson covers the automotive industry’s step-by-step transformation to electric vehicles. He is an experienced investor, enthusiast of money and electric vehicles. His enthusiasm for electric vehicles, primarily Tesla, is one of the main reasons he pursued a career in the investment space. If he doesn’t tell you about his latest discoveries in the 10K, you can find him enjoying the outdoors or working out.