Sources told Bloomberg that the automaker will be announcing plants for both electric-vehicle assembly and components. Though he didn’t mention Honda by name, Ontario Premier Doug Ford said Monday at a First Nations Major Project Coalition conference that “this week we landed a new deal … the largest deal in Canadian history. It’ll be double the size of Volkswagen. So stay tuned, I’ll be announcing it this week.” (Bloomberg) 

Talking point: Last week’s federal budget included a new tax credit for buildings that house EV manufacturing operations—an incentive that was geared at Honda, Bloomberg reported. Canada has reportedly been in the running for a US$14-billion Honda investment since at least January, when it was reported by Japanese publication Nikkei. But Honda, unlike companies like Volkswagen and Stellantis, won’t get ongoing production subsidies, Bloomberg reported. According to The Globe and Mail’s report on Monday, Honda is planning battery and assembly plants in Alliston, Ont., and plants for cathode materials and separator components at another Ontario location. Reports previously said that Quebec could be in the running for the cathode plant.