Canada has just “stealed” a Japanese electric vehicle factory from Morocco for $14 billion

HIBAPRESS-RABAT

Of course, Morocco has always wanted it to have an electric car manufacturing factory that would bring it a lot of money, the fact remains that Canada is well placed before Morocco in this area and is arriving continually establishing itself just as well with the Germans as with the Japanese and other nationalities

Still, Canada has been able to invest in electricity and it is in this context that the Japanese manufacturer Honda plans to set up an electric vehicle factory in Eastern Canada.

The agreement was concluded with the Canadian federal state and the province of Ontario where the factory will be located, with the state and province providing financial support, at a time when Ontario Prime Minister Doug Ford s is delighted with this upcoming announcement.

“We have reached a new agreement. This will be the most important agreement in Canadian history. It will be twice as large as that of Volkswagen,” estimated at 7 billion Canadian dollars, he declared during a speech in Toronto.

In January, when the agreement with the Japanese manufacturer was first mentioned in the Japanese press, the daily Nikkei estimated that it would be one of the car manufacturer’s most important investments, citing an amount total of approximately 14 billion Canadian dollars.

This factory, which will be built in Alliston, an hour from Toronto, will be the third for batteries for electric vehicles in Ontario, after those of Volkswagen and Stellantis in Windsor.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button