Honda Investment Shows EVs

Accelerate welcomes the historic $15 billion investment by Honda in EV assembly and
battery component manufacturing. This is an important vote of confidence in Ontario manufacturing and in the skilled
men and women who make world-class products in Canada.
The federal and Ontario governments deserve
significant credit for their dedication to building the relationships necessary to attract such an important
investment. At a time when jurisdictions across the world are competing for these types of projects, Honda, with its
rich history in Canada understood the very tangible value offered by proximity to upstream materials, access to
clean energy, the predictability of our institutions and access to the North American market.
This value is
offered by every region of the country, all of which have the opportunity to participate in the growth of this
global industry and grow their local and provincial economies. In short, EV and EV battery and component
manufacturing can be a champion industry for Canada. To make this happen, governments, industry, Indigenous leaders,
labour and other stakeholders must leverage these projects by focusing on five key areas:

1. The sustainable development of our critical mineral assets and the growth of a robust mid-stream sector that
   adds value to minerals sourced in Canadian mines;
2. The transition and growth of our components and parts manufacturing sectors;
3. The fostering, growth and commercialization of innovative Canadian firms and products;
4. The strengthening of our long-term value proposition within North Americaand;
5. The expanded integration of and coordination between different segments within the ZEV supply chain.

Like other significant investments into the EV sector over the past two years, let’s view Honda’s important
investment as a catalyst for growth and innovation that can benefit firms across every segment of the supply chain
and in every region of Canada.