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Automobiles

Honda goes all in on EVs in U.S., Canada despite slowdown worries

Hybrid cars and motorcycles to help pay for $11bn supply chain buildup

Honda Motor CEO Toshihiro Mibe is spearheading the automaker's North American EV investments. (Photo by Kazuyuki Okudaira)

TOKYO/TORONTO -- With big plans for a North American electric-vehicle supply chain, Honda Motor is showing confidence in the outlook for the U.S. market for EVs despite some bumps in the road.

The 15 billion Canadian dollar ($11 billion) investment announced Thursday -- one of Honda's largest to date -- includes EV and battery factories slated to start up as soon as 2028, as well as joint ventures for battery components with partners from South Korea and Japan.

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