Monday , 24 April 2017
Home » Money » Honda Canada plans $492 million investment in Ontario plant
Honda Canada plans $492 million investment in Ontario plant
Honda Canada plans $492 million investment in Ontario plant

Honda Canada plans $492 million investment in Ontario plant

Honda Canada Inc. will invest $492 million in its plant in Alliston, Ontario, the automaker said in an announcement in Monday which coincided with the long-awaited changes to the federal government’s automotive innovation fund.

The new investment brings Honda’s total Canadian facilities investment to over $4.7 billion. In 1986, Honda became the first Japanese auto maker to build a manufacturing facility in Canada.

Honda Canada is partnering with the Government of Canada and the Government of Ontario on this program. Both the federal and Ontario governments will provide conditional grants up to $41.8 million each, representing 17 per cent of Honda Canada’s investment.

“Thank you to both the federal and Ontario governments for creating an environment which will allow us to further modernize our manufacturing facilities and make innovative upgrades possible, including building a state-of-the-art paint shop which will reduce the GHG emissions from our paint process by 44%, further reducing our manufacturing carbon footprint in Canada,” said Jerry Chenkin, President and CEO, Honda Canada Inc. “As a result of these upgrades, HCM will continue to provide thousands of well-paying, high quality jobs in Alliston and throughout Canada.”

This investment will allow for further research and development activities to advance the latest manufacturing technologies. With these new investments, Honda and HCM will continue to be a formidable contributor to the economic well-being of Canada’s automotive industry.

“Our government’s support for advanced-manufacturing platforms and clean technology in the auto sector is a key part of our plan to drive economic growth through innovation to create a better Canada. That means better jobs, better opportunities and better living standard for all Canadians.”

— Navdeep Bains, federal Minister of Innovation, Science and Economic Development

“Technology and innovation never stand still, so it’s essential that Ontario’s auto sector remains globally competitive. Honda is a cornerstone of our sector — accounting for about 17 per cent of Ontario’s vehicle output. With this partnership, the company and provincial and federal governments are joining forces to ensure that Honda’s skilled Alliston team remains a leader in building the vehicles of tomorrow.”
— Brad Duguid, Ontario Minister of Economic Development and Growth

Honda of Canada Mfg. has the capacity to produce 400,000 Civic and CR-V models annually for the Canadian and North America markets, as well as for export. Of which, approximately 100,000 Canadian-built Civic and CR-V units are sold on an annual basis in Canada. HCM also produces 260,000 four-cylinder engines annually.

Agencies/Canadajournal




  • About News

    Web articles – via partners/network co-ordinators. This website and its contents are the exclusive property of ANGA Media Corporation . We appreciate your feedback and respond to every request. Please fill in the form or send us email to: [email protected]

    Leave a Reply

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

    *