Honda Motor Company is considering a plan to build an electric car factory in Canada with an investment of up to $14 billion, according to the Japanese newspaper Nikkei.
Nikkei said the company, which is considering several sites, one of which is next to an existing auto plant in Ontario, is expected to make a decision by the end of the year before the new site is operational by 2028. The newspaper did not specify how it obtained the information.
Nikkei added that the project may also include internal battery production, and will represent Honda's second electric car production plant in North America if it goes according to plan.
Honda is investing $3.4 billion in electric bikes in 2030
Honda Motor intends to invest 500 billion Japanese yen ($3.4 billion) in its electric bicycle unit by 2030, and has raised its annual sales target to 4 million units for the current year from 3.5 million units.
The company said in a statement on Wednesday that it plans to introduce 30 new models of electric bicycles around the world by 2030, and will begin operating factories dedicated to electric bicycles globally starting around 2027, explaining that the new technology will reduce the length of assembly lines by about 40%.
“We aim to sell electric bikes at the same price as internal combustion engine-powered models,” Daiki Mihara, Honda's head of motorcycle electrification development, said during an online press conference.
Honda will supply Aston Martin with engines for Formula 1 racing starting in 2026.
The company aims to expand its market share in India and the Southeast Asia region. Miyahara said the new production facilities are very likely to be in India and Southeast Asia. Honda added that it is developing lithium iron phosphate batteries and plans to adopt them in 2025.
“Having a diverse range of batteries, each with different strengths in terms of production scale and cost, will enable Honda to accommodate a wider range of usage applications and expand product diversity,” the Japanese company said in the statement.
Increasing the production of Honda cars globally
In the medium to long term, Honda is exploring batteries with higher energy density, with a focus on the use of all-solid-state batteries that are in development. The company said it aims to reduce the cost of off-the-shelf electric bikes by 50%, and also aims to achieve an operating profit margin of more than 10% for its motorcycle unit in 2030, and more than 5% for electric bikes.
Earier on Wednesday, Honda announced that its global vehicle production reached 404,276 units in October, an increase of 23% year-on-year. Sales also increased by 23% to about 372 thousand units.
تعليقات
إرسال تعليق