Honda to invest $1.4B in hybrid vehicles
Honda Canada Inc. is the latest big automaker planning a major upgrade to its Ontario facilities to produce cleaner vehicles.
The company said Wednesday that it would invest about $1.4 billion (US$1.1 billion) over six years to produce an electric hybrid version of its CR-V compact SUV at its plant in Alliston, Ontario. The investment will be supplemented by more than C$263 million from the federal and provincial governments.
“Now, as we build a cleaner future, the automotive sector is a key partner in powering the way forward,” Prime Minister Justin Trudeau said Wednesday at a news conference at the plant.
In the last two years, General Motors Co., Ford Motor Co. and Stellantis NV, which owns the Jeep and Ram brands, have announced billions of dollars of investment in Ontario to build clean vehicles.
The Liberal government has said that new light-duty cars and passenger trucks sold in Canada must be zero-emission by 2035.
At the news conference, Ontario Premier Doug Ford said that the province was saying “yes” to investing in communities, good jobs and “another hundred years of being North American leaders in auto manufacturing.”