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Asahi Kasei to build EV battery component plant in Canada to supply Honda, Nikkei reports

By Rocky Swift23 Apr 2024Reuters1 Mins read55
FILE PHOTO: The logo of Asahi Kasei Corporation is displayed at an entrance of the company's Tokyo headquarters in Tokyo, Japan October 9, 2019. Picture taken October 9, 2019. REUTERS/Issei Kato/File Photo
FILE PHOTO: The logo of Asahi Kasei Corporation is displayed at an entrance of the company's Tokyo headquarters in Tokyo, Japan October 9, 2019. Picture taken October 9, 2019. REUTERS/Issei Kato/File Photo

TOKYO – Asahi Kasei plans to spend about 200 billion yen ($1.3 billion) to build a battery component factory in Canada, the Nikkei newspaper said on Wednesday.

The plant is being built primarily to supply Honda Motor’s electric vehicle production in Canada, the newspaper said.

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