Honda will establish a new electric vehicle and battery facility in Canada with an investment of 11 billion dollars.
Recently, electric cars have become very popular and many brands are making huge investments in this market.
Honda, one of these brands, has gone out of its way to have a say in the market in the future.
Honda plans to build a new electric vehicle factory and battery facility in Ontario, Canada.
The company aims to put the new facility into service in 2028, with an investment volume of up to 11 billion dollars and an annual production capacity of 240 thousand vehicles.
Noting that it is negotiating subsidy purchases from the Canadian government, Honda aims to reduce current costs by 20 percent with local battery production.
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