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Canada is close to a deal with Honda Motor Co that would allow the Japanese automaker to build electric vehicles and their components in Ontario, according to people familiar with the matter.
The agreement, expected to be formally announced within a week, includes Honda’s commitment to invest billions in new facilities to process cathode active materials, produce batteries and assemble battery-powered vehicles in Ontario, positioning Ontario as a North American electric vehicle manufacturing initiative core area. The Canadian government will provide subsidies for part of the capital costs.
(Source: enanyang Image source: unsplash)
