Comparing Honda’s EV investment in Canada to other industry players

The Canadian government, along with the Ontario government, has been making significant investments in the electric vehicle (EV) industry, with more than $46 billion invested since 2020. These investments are aimed at establishing Canada as a key player in the global EV supply chain.

One of the major investments announced recently is a $15 billion project with Honda Motor Co. Ltd. to establish an EV supply chain and assembly plant in Ontario. This project, touted as the largest automotive investment in Canadian history by Prime Minister Justin Trudeau, is a significant step towards boosting the EV industry in the country.

In addition to the Honda project, other major investments include a $5 billion plan by Stellantis NV and LG Energy Solution to build a lithium-ion battery plant in Windsor, Ontario. Volkswagen AG is also set to build its first overseas battery manufacturing plant in St. Thomas, Ontario, with an investment of $7 billion.

Furthermore, Swedish manufacturer Northvolt AB is planning to open its first North American EV battery plant near Montreal, with a total project value of $7 billion. These investments are supported by generous subsidies from the federal and provincial governments, showcasing their commitment to the growth of the EV industry in Canada.

Overall, these investments highlight the government’s efforts to position Canada as a leader in the EV market and create a sustainable future for the automotive industry. With these initiatives, Canada is poised to become a hub for EV manufacturing and innovation, driving economic growth and environmental sustainability.