Honda Investing in Multi-Billion Dollar Battery Plant
(ConservativeHub.com) – Ohio and Honda have a cooperative relationship. The company first began operations in the state in 1977. On October 11, Executive Vice President Bob Nelson announced plans to make the Buckeye State the center for its electric vehicle manufacturing efforts within the United States. The company will add to its five other Ohio production facilities with a $3.5 billion factory, which reports say could ultimately turn into an investment of about $4.4 billion.
The new location is part of joint operations between Honda and LG Energy to produce electric batteries for the automaker, who committed to building only clean energy vehicles by 2040. The new plant, undergoing construction in Fayette County, should be operational by 2025.
OHIO’S BIG WIN: Honda’s new $4.4B electric battery plant to bring 2,500+ jobs about 50 minutes from Dayton https://t.co/nHzfOmuhTx
— Dayton Daily News Business (@daytonb2b) October 11, 2022
Honda also said it would increase the number of jobs at three other Ohio factories. The Marysville and East Liberty facilities will build electric vehicles, while the factory in Anna will produce battery cases. These production sites, currently employing around 8,300 people, expect an increase of approximately 300 positions.
The company joins other automakers turning to electric vehicle production after the Inflation Reduction Act incentivized the process by offering a tax credit. Ford, GM, Hyundai-Kia, and VinFast have all committed to building assembly plants or switching current operations to produce electric vehicles. Stellantis and Toyota have also announced plans for new battery plants in the US.
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