Under the prospective deal, the Japanese auto manufacturer would produce cathodes for its electric vehicles in Bécancour, Que., home to the province’s emerging battery production hub, according to La Presse. Ontario would assemble the batteries themselves, thereby securing the lion’s share of Honda’s investment, which is at least $16 billion. (La Presse, Radio-Canada)

Talking point: Honda has reportedly been weighing building an electric vehicle plant in Canada, Nikkei reported in January. Quebec has in the past offered generous terms to lure companies like GM and Ford to the province in its quest to become a key player in EV production. Yet having recently  tabled an $11-billion deficit budget, the province has turned to less cash-heavy incentives to Honda, reportedly including handing over its interests in Nemaska Lithium to the automaker. A latecomer in the EV segment, Honda partnered with GM in the production of its first electric SUV. Japan’s second-biggest car maker plans to release its new EV lineup in 2026, aiming to build two million EVs globally a year by 2030.