Sling announced this Thursday that it will invest US$ 11,000 million in southern Canada for the construction of four plants for the production of electric vehicles (VE), including one for automobile assembly and another for batteries.
The automobile assembly plant will have the capacity to produce 240,000 EVs per year from 2028, when it is fully operational.
Canadian authorities will provide Honda with about 5 billion Canadian dollars (US$3.65 billion) in aid.
During the presentation of the investment in the town of Allistonwhere Honda is headquartered in Canada as well as an automobile assembly plant, Canadian Prime Minister Justin Trudeau called the project the “largest sector in Canadian history”.
In the last four years, several auto and battery manufacturers have committed investments worth more than 31 billion Canadian dollars (US$22.632 million) for EV production in the country.
In addition to the vehicle assembly plant, the investment of Sling It includes the construction of a battery plant, another for processing materials for cathodes as well as precursors, and a separator installation, a basic component for the production of lithium-ion batteries.
The cathode materials processing plant will be a joint operation with Posco Future M and the separators plant with Asahi Kasei.
The battery plant will have a capacity of 36 GWh per year.
Sling He highlighted that the investment involves the creation of “the first comprehensive EV supply chain in Canada” and allows the Japanese company “prepare for a future increase in demand for electric vehicles in North America” supported by the T-MEC agreement.
The car manufacturer has already announced the reconversion of several plants in Ohio (United States), with an investment of 700 million dollars, to create an EV production hub in that state.
It will also invest about $4.4 billion together with LG Energy Solution to build a battery plant in the United States.
The Japanese manufacturer plans to begin producing EVs in the United States starting in late 2025 at the Marysville assembly plant.
Source: Gestion
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