Honda Motor Co. on Tuesday announced two major investments tied to electric-vehicle and battery production in Ohio, marking the latest move by a global automaker to advance its electrification strategy amid tightening government policies and growing consumer demand.
The Japanese automaker will invest $700 million to retool several existing assembly and powertrain plants in Ohio for production of EVs. And with joint-venture partner and South Korean battery maker LG Energy Solution, Honda will spend $3.5 billion to build a battery plant. The companies revealed Tuesday that the previously-announced plant will be built in Ohio's Fayette County, about 40 miles southwest of state capital Columbus, near I-71 and U.S. Route 35, according to a news release.
The investments mark an expansion of Honda's long-standing presence in Ohio, home to its Marysville Auto Plant, East Liberty Auto Plant and Anna Engine Plant. The $700 million outlay will be used to convert those three facilities for EV production. The plan is slated to create more than 300 new jobs, according to the company.
