Japanese media sources reported that Honda Motor Company intends to invest more than 18.4 billion dollars to establish a factory for cars and batteries, which is considered a step towards planning the widespread use of electric vehicles.

The company stated that it is currently exploring building a factory for electric cars.

In a detailed report, Honda pointed out that it is looking at several locations in addition to its current plant in Alliston, Ontario, and an investment decision is expected by the end of this year 2024.

It is worth noting that Honda can build electric car battery factories according to an agreement in effect in Ohio, while the report indicates that the company can do so independently in Canada.

The report also stated that the availability of renewable energy in Canada was a major reason behind Honda’s decision to establish a factory for electric cars and their batteries, while the federal government

had previously announced that electric car sales would be mandatory by 2035.