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.