Honda unveils $15B investment plan to build new EV plant in Alliston
Prime Minister Justin Trudeau and Premier Doug Ford visited Alliston on Thursday to unveil a $15 billion investment in an electric vehicle and battery facility.
"This is a historic day with the largest auto investment in Canada's history," said Justin Trudeau. "We will be investing to create Canada's first comprehensive electric vehicle supply chain from start to finish."
The $15 billion project includes a retooled plant, an electric vehicle battery plant nearby, and two critical battery parts facilities spread throughout the province.
Honda could participate in a recent federal government proposal in the budget to include a 10 per cent Electric Vehicle Supply Chain investment tax credit on top of an existing 30 per cent Clean Technology Manufacturing Investment tax credit.
Premier Doug Ford called the announcement a game-changer.
"Once built and operational, Honda's massive new electric vehicle plant and battery facility here in Alliston will employ more than 4,200 people," said Ford.
According to the premier, the facility will generate around 30,000 additional jobs in the industry, as Honda pledges to have 100 per cent electric vehicle sales in North America within 16 years.
"Here in Canada, we are very pleased to begin a new discussion toward achieving this major electrification milestone, which builds on our ongoing projects in the U.S.," said Honda CEO Toshihiro Mibe.
New Tecumseth mayor Richard Norcross says the deal will help grow Alliston's population, which is expected to double to around 90,000 residents in the next 25 years.
The Honda facility will be Ontario's third electric vehicle battery plant, following Volkswagen in St. Thomas and a Stellantis LG plant in Windsor.
"We did make a commitment to build 6,400 more homes locally here in New Tecumseth to help support the workers that'll be coming for the jobs that are definitely coming," said New Tecumseth mayor Richard Norcross.
"This is huge for Simcoe County; it's huge for the province. This is what happens when all three levels of governments work together with an outstanding corporation like the Honda company, and they're second to none."
- Download the CTV News app to get local alerts on your device
- Get the latest local updates sent to your email inbox
The federal Conservative Cabinet criticizes the deal, saying it gives $5 billion in subsidies to another large multinational corporation and accuses the Prime Minister of selling out Canadian union workers and taxpayers.
Honda intends to start operating the EV plant by 2028: if all goes according to plan they can produce upwards of a million vehicles in the first four years.
With files by CP.
CTVNews.ca Top Stories
Amber Alert issued for 2 toddlers near Quebec City
Police have issued an Amber Alert for two children who have gone missing from near Quebec City.
Netanyahu acknowledges 'tragic mistake' after Rafah strike kills dozens of Palestinians
Israeli Prime Minister Benjamin Netanyahu acknowledged Monday that a "tragic mistake" had been made after an Israeli strike in the southern Gaza city of Rafah set fire to a tent camp housing displaced Palestinians and, according to local officials, killed at least 45 people.
Mike Tyson had medical issue on cross-country flight
Boxing legend Mike Tyson required medical attention after experiencing an 'ulcer flare up' toward the end of a cross-country flight Sunday, his representatives confirmed to the New York Post.
Why Canada's big grocery stores are under investigation
Amid mounting outrage over high grocery prices, a retail expert says there's a solution to fostering more competition in the country.
Arrests made in 'highly orchestrated' GTA auto theft operation: police
Peel Regional Police say they have arrested 16 suspects and issued arrest warrant for another 10 individuals in connection with an auto theft investigation carried out by a 'highly orchestrated criminal operation.'
Indigo Books & Music shareholders vote to approve privatization sale
Indigo Books & Music Inc. shareholders have voted to approve a deal that will see the retailer become a private company.
Quebec police investigating after entire herd of 75 cattle allegedly stolen
Quebec provincial police are investigating after an entire herd of about 75 cattle were allegedly stolen in the Eastern Townships region last week.
B.C. senior prepares to move due to devastating effects of fraud
A Courtenay, B.C., senior is downsizing and packing to move as she comes to accept she can no longer afford to stay in her home, after falling victim to a scam that robbed her of her life savings worth more than $100,000.
Canada pledges visas for 5,000 Gaza residents related to Canadians
Canada said on Monday it would grant temporary visas to 5,000 Gaza residents under a special program for Canadians' relatives living in the war-torn enclave, a preparatory move in case they are able to leave in the future.