Honda goes all in on EVs in U.S., Canada despite slowdown worries

Hybrid cars and motorcycles to help pay for $11bn supply chain buildup

20240426N Honda

Honda Motor CEO Toshihiro Mibe is spearheading the automaker's North American EV investments. (Photo by Kazuyuki Okudaira)

SHOYA OKINAGA and AZUSA KAWAKAMI, Nikkei staff writers

TOKYO/TORONTO -- With big plans for a North American electric-vehicle supply chain, Honda Motor is showing confidence in the outlook for the U.S. market for EVs despite some bumps in the road.

The 15 billion Canadian dollar ($11 billion) investment announced Thursday -- one of Honda's largest to date -- includes EV and battery factories slated to start up as soon as 2028, as well as joint ventures for battery components with partners from South Korea and Japan.

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