The federal and Ontario governments announced a multibillion-dollar agreement on Thursday, allowing Honda Motor Co. to boost the capacity of its Alliston plant to manufacture electric cars and batteries for those vehicles.
The federal government will provide up to $2.5 billion in clean technology tax credits and electric vehicle supply chain investments, and Ontario will commit up to $2.5 billion in direct capital cost assistance and indirect land servicing costs for future facilities. Collectively, Honda said it's investing $15 billion into the plant.
Honda CEO Toshihiro Mibe said the facility expansion will create 1,000 more jobs, in addition to the 4,200 that already exist at the assembly plant.