The money will go towards tooling for hybrid vehicles.
It will also serve to prepare the facilities for EV production.
Honda will announce today that it will be investing over $1.38 billion in its Alliston, ON. facilities in preparation for new and upcoming electrified vehicles. Of that sum, both federal and Ontario governments each will inject $103 million.
We recently learned that Honda Canada will finally sell the hybrid version of its ultra-popular CR-V compact SUV. As well, it will be assembled in Canada and should be the first vehicle to roll off the updated assembly lines. The CR-V has been built at Plant 2 in Alliston since 2012 while the CR-V hybrid was put together in Greensburg, Ind. since 2019.
According to Automotive News, the first 2023 model hybrid vehicles will be produced as of this summer however an actual start date has yet to be announced. Honda assumes that demand for these hybrid vehicles will be very strong and increase over the coming years.
Eventually, the Alliston, ON. campus will produce electric vehicles as Honda plans to sell only EVs by 2040 in North America.