Business news from Ukraine

Honda considers building electric vehicle plant in Canada

Japanese automaker Honda Motor Co. is considering the possibility of building an electric vehicle manufacturing plant in Canada, the Nikkei newspaper reports.

Investments in the project could reach 2 trillion yen ($14 billion).

Honda is considering several sites for the construction of the plant, including a site near the company’s existing facility in Ontario. The project may include the creation of facilities for the production of electric vehicle batteries, Nikkei notes.

The automaker intends to make a decision on the site for the construction of the Canadian plant by the end of 2024. The plant is expected to start operating in early 2028.

Honda is preparing to start production of electric vehicles and batteries in the US state of Ohio in 2026, and the Canadian plant will become the second largest Japanese company in North America.

This region accounts for about 40% of all Honda sales.

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Electric vehicle registrations in Ukraine almost tripled in 9 months of 2023

Initial registrations of electric vehicles in Ukraine in January-September 2023 increased 2.7 times compared to the same period in 2022, amounting to approximately 24.2 thousand units, while the share of new cars increased to 20% from 15%, Ukravtoprom reported on its Telegram channel on Tuesday.
At the same time, in September, according to the association, registrations increased by 12% compared to August this year and 2.7 times compared to September last year – up to 4,298 thousand units, including 775 new and 3,523 used cars.
The lion’s share of registrations, as before, is occupied by passenger cars – 4.215 thousand units (new – 769 units, used – 3,446 units), and only six of 83 commercial electric vehicles were new.
The TOP-5 new electric vehicles on the market in July included Volkswagen ID.4 – 350 units; Volkswagen ID.6 – 66 units; Toyota BZ4X – 51 units, Honda E – 49 units, BYD Yuan Plus – 19 units.
The top five used cars, as in August, were Nissan Leaf – 590 units; Volkswagen e-Golf – 433 units; Tesla Model 3 – 405 units; Tesla Model Y – 247 units and Renault Zoe – 194 units.
As reported, according to Ukravtoprom, Ukrainians purchased 13.6 thousand electric vehicles (new and used) in 2022, 1.5 times more than a year earlier, while the share of new vehicles increased to 17% from 14%.