Honda to build C$15B integrated CAM to EV complex in Canada

May. 16, 2024

Integrated facility

Honda announced in April a C$15B investment into four plants in Ontario, Canada. Earmarked for operation in 2028, the integrated facilities will be one of the first of their kind.

Honda’s first EV plant will produce 240,000 vehicles per year in conjunction with a cell factory in Alliston, Ontario. Feeding the cell plant will be a cathode active materials plant, with JV partner POSCO Future M, and a separator plant, with JV partner Aahi Kasei Corporation.

Adamas take:

The deal marks a momentous leap for the Japanese auto OEM which to date has been following compatriot Toyota’s lead into the hybrid-EV market. For Canada, this is a huge vote of confidence into the economic viability of large industrial projects, trumping the southern “rust-belt” neighbors for the bid.

By our estimates, if benchmarking with Honda’s Prologue model (85 kWh battery back), a 240,000 EV per annum facility could require roughly 26 GWh of cell capacity, 37 kt CAM capacity and 15 kt LCE in refined lithium chemicals, at steady state.

[Extract from the May issue of the EV Battery Lithium Monthly service.]

 


 

Chris Williams, Analyst at Adamas Intelligence

Chris is an Analyst at Adamas Intelligence focused on the global lithium industry. He researches and analyzes the lithium value chain to uncover actionable opportunities for clients.

Chris has 11-years experience in mining and oil & gas operations optimization, delivering value from data intensive insight generation. He completed his Bachelor and Masters of Engineering at the University of Queensland, majoring in Mechanical Engineering, and is currently completing a Masters of Business Administration at the University of British Columbia.

 


 

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