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Japanese firm Asahi Kasei invests $1.6 billion in new EV battery parts plant in Port Colborne, Ont.

Construction of the plant is expected to be completed by the end of this year, but the federal government said details regarding the number of jobs created “are currently being finalized and will be announced at a later date.”

Published May 14, 2024 at 4:01pm

Davis Legree
Davis Legree
Japanese firm Asahi Kasei invests $1.6 billion in new EV battery parts plant in Port Colborne, Ont.
An electric vehicle is charged in Ottawa on Wednesday, July 13, 2022. Auto manufacturers will have three years to start showing a sizable increase in electric vehicle sales as the federal government moves to finalize its new EV mandate this week. (Sean Kilpatrick/The Canadian Press)

The Japanese multinational Asahi Kasei is investing $1.6 billion in a new electric-vehicle (EV) battery separator plant in Port Colborne, Ont., Prime Minister Justin Trudeau announced on Tuesday.

The company had previously said it was exploring joint investment opportunities in a building a plant with Honda Canada, which an industry source confirmed will be a partner in the new facility. A Honda spokesperson told iPolitics the automotive giant is still in negotiations with joint venture partners, including Asahi Kasei, but that work is expected to be finalized “during the next six months.”

The news comes after iPolitics first reported that Honda would announce plans to build a new battery parts plant in the Niagara region as part of its $15-billion Ontario expansion that will also see EVs produced in Canada.

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