Honda has announced plans to put $11 billion into a new electric vehicle hub in Ontario, Canada. 

The carmaker made the announcement on April 25, unveiling plans to establish a "comprehensive EV value chain" in Ontario that includes an EV plant, a battery plant, and a processing plant for the key materials needed to make batteries. This is expected to create 1,000 new jobs. 

Honda hopes to start EV production at the hub in 2028, with the capacity to produce an estimated 240,000 vehicles a year. The company has a goal to have battery and fuel cell EVs make up 100% of its vehicle sales by 2040. 

Honda also announced a $700 million investment to retool existing plants at its flagship production hub in Marysville, Ohio to start producing EVs in late 2025. As part of that push, it's partnering up with Korean company LG Energy Solution on a new $4.4 billion battery plant in Jeffersonville, Ohio.