Honda plans to spend CAD 1.38 billion to manufacture new electric hybrid vehicles in Ontario

Honda of Canada, a division of Honda Canada, announced it will invest CAD 1.38 billion over six years to upgrade its manufacturing plants in Ontario.

The company says the plants will be upgraded to implement new technologies, processes, supply chain and vehicle R&D programs.

Honda added that the investment brings its total Canadian facilities investment to more than CAD 6.5 billion since 1986.

As part of the investment, both Canadian federal and provincial governments will chip in CAD 131.6 million each for a combined CAD 263 million investment.

“We’re announcing great news … that is going to secure thousands of good middle-class jobs across southern Ontario and build a strong, sustainable economy,” said Prime Minister Justin Trudeau during the announcement at Honda’s plant in Alliston, Ontario. “As we build a cleaner future, the automotive sector is a key partner in powering the way forward.”

Honda and its partners employ approximately 19,000 people in Canada with approximately 4,200 manufacturing workers in Ontario.

The company says this retooling process will secure these thousands of jobs; specifically in the local area, and also create a range of job training initiatives.