Honda Nearing Deal to Build EVs and EV Components in Canada, Bloomberg Reports
--Honda Motor and the Canadian government are finalizing a deal for the Japanese auto company to assemble electric vehicles and process components in the province of Ontario, Bloomberg reported, citing government officials.
--Monthslong talks between Honda and Canadian officials have focused on tax credits, which is how Canada intends to help offset the auto maker's capital costs in building the new facilities, the report said.
--Representatives for Honda didn't respond to a request for comment, Bloomberg said.
--Honda already assembles its CR-V and Civic models at a factory roughly 70 miles northwest of Toronto.
Full article at https://www.bloomberg.com/news/articles/2024-04-22/honda-is-near-deal-with-canada-to-boost-electric-vehicle-capacity?sref=7iNjhqyV
--Write to Paul Vieira at paul.vieira @wsj.com
(END) Dow Jones Newswires
April 22, 2024 10:23 ET (14:23 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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