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
Trump confronts repeated boos during raucous Libertarian convention speech
Donald Trump was booed repeatedly while addressing Saturday night’s Libertarian Party National Convention.
Grayson Murray, two-time PGA Tour winner, dead at 30
Two-time PGA Tour winner Grayson Murray died Saturday morning at age 30, one day after he withdrew from the Charles Schwab Cup Challenge at Colonial.
Family of toddler found dead at small-town Ont. daycare no closer to answers after year of investigation
A year has passed since two-year-old Vienna Irwin was found on the property of a home-based daycare in small-town Ontario, but her family says they are no closer to answers of what happened that day.
Here's what every key witness said at Donald Trump's hush money trial. Closing arguments are coming
After 22 witnesses, including a porn actor, tabloid publisher and White House insiders, testimony is over at Donald Trump’s criminal trial in New York.
More seniors are using homeless shelters. Here's why, according to experts
One of the country’s homeless shelters has seen an uptick in the number of people through its doors, including more older adults over 50.
This type of screen time has the worst effect on kids: experts
According to some experts, there is one type of screen time that is continuously excessive, and it's having a severe effect on our children.
Norway hands over papers for diplomatic recognition to the Palestinian prime minister
Norway on Sunday handed over diplomatic papers to the Palestinian prime minister in the latest step toward recognizing a Palestinian state, a largely symbolic move that has infuriated Israel.
Man or machine? Toronto company finds a way to determine how real audio clips are
The Toronto-based research arm of life sciences technology firm Klick Health has found a way to analyze voices in a manner that’s so granular, it can tell whether it's a person or an artificial intelligence-powered machine.
J.H. Tabaret statue at uOttawa vandalized
The statue of J.H. Tabaret at the University of Ottawa (uOttawa) has been vandalized, as a picture taken by CTV News shows red paint sprayed all over it.