Honda plans $1.38B Ontario plant upgrade with government support
BNN Bloomberg
A division of Honda Canada is set to announce tomorrow that it will spend $1.38 billion to upgrade an Ontario manufacturing plant, an investment that includes millions in funding from the federal and provincial governments.
A division of Honda Canada Inc. is set to announce Wednesday that it will spend $1.38 billion over six years to upgrade an Ontario manufacturing plant to make electric hybrid vehicles, an investment that includes millions in funding from the federal and provincial governments.
Honda Canada spokesman John Bordignon confirmed that the 2023 CR-V and CR-V Hybrid will be built in the company's Alliston, Ont., plant.
A draft news release obtained by The Canadian Press says it will be the lead plant for the 2023 CR-V Hybrid crossover.
The release says the federal and provincial governments will chip in $131.6 million each for the plant's overhaul for a total investment of about $263 million. The investments were confirmed by a government source.
Honda's expenditure would bring its total Canadian manufacturing investments to more than $6 billion since 1986, when it became the first Japanese automaker to build a manufacturing facility in Canada.
Prime Minister Justin Trudeau and Ontario Premier Doug Ford are scheduled to participate in the announcement.
