…The deal, expected to be announced within a week, involves a multibillion-dollar commitment by Honda for new facilities to process cathode active materials, build batteries, and assemble battery-powered vehicles — making southern Ontario a key hub of company’s EV manufacturing plans in North America. The Canadian government would subsidize a portion of the capital cost.
…The Honda investment comes at an anxious moment for the auto sector, with consumer adoption of electric vehicles playing out slowly in some regions because of high prices and a shortage of charging stations. Tesla Inc. is cutting more than 10% of its global workforce, Chinese producer BYD Co. reported a sharp drop in deliveries of electric vehicles in the first quarter, and other automakers have delayed EV investments.
Count on the Trudeau government to be wrong and wasteful.
h/t Mauser
