Honda to Invest $11 Billion in Canada Electric-Vehicle Plan With Government Aid

Automaker will focus on a manufacturing site north of Toronto
The company will unveil details on Thursday with PM Trudeau

A Honda Motor Co. CR-V e:FCEV (fuel cell electric vehicle) on display at an expo in Tokyo in February. Photographer: Kiyoshi Ota/Bloomberg

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By Brian Platt

April 25, 2024 at 7:30 AM UTC

This article is for subscribers only.

Honda Motor Co. will spend C$15 billion ($11 billion) to build electric vehicles north of Toronto, with lawmakers in Canada promising significant financial aid, according to a person with knowledge of the matter.

The investment will be announced Thursday morning in Alliston, Ontario, by Honda officials and government leaders including Prime Minister Justin Trudeau and Ontario Premier Doug Ford. Bloomberg News first reported on April 21 that Honda and the Canadian government were near a deal.