Honda Announces $15 Billion Investment in EV Plant in Alliston

Canadian Prime Minister Justin Trudeau and Ontario Premier Doug Ford made a landmark visit to Alliston to reveal a monumental $15 billion investment in an electric vehicle battery facility.

The investment, labeled the largest in the history of Canada‘s auto industry, encompasses a retooled plant, an electric vehicle battery plant in close proximity, and two vital battery parts facilities dispersed across the province.

During the announcement, Honda hinted at potential involvement in a federal government proposal for a 10 percent Electric Vehicle Supply Chain investment tax credit in addition to the existing 30 percent Clean Technology Manufacturing Investment tax credit.

Describing the occasion as a game-changer, Premier Doug Ford expressed that Honda’s sprawling new electric vehicle plant and battery facility in Alliston will provide jobs for over 4,200 individuals once operational.

The premier forecasted approximately 30,000 new jobs in the industry due to the facility, as Honda committed to achieving 100 percent electric vehicle sales in North America within the next 16 years.

Honda CEO Toshihiro Mibe emphasized the significance of initiating a conversation in Canada to reach this substantial electrification milestone, building upon their existing projects in the U.S.

New Tecumseth Mayor Richard Norcross highlighted the transformative impact of the deal, foreseeing a doubling of Alliston’s population to an estimated 90,000 residents in the next 25 years.

This Honda plant will mark Ontario’s third electric vehicle battery enterprise, following the establishments by Volkswagen in St. Thomas and Stellantis LG in Windsor.

Mayor Richard Norcross added that there was a commitment to construct 6,400 more homes locally in New Tecumseth to accommodate the influx of workers attracted by the new job opportunities.

The federal Conservative Cabinet criticized the deal, claiming it awards $5 billion in subsidies to another large multinational corporation, thus accusing the Prime Minister of betraying Canadian union workers and taxpayers.

Honda has planned to commence operations at the EV plant by 2028, as per information from CP.