Honda Boosts Ohio Investment to $1 Billion for EV, Hybrid Production
Honda Motor has increased its investment in three Ohio auto plants by $300 million, bringing the total to $1 billion. This investment will provide flexibility to build electric vehicles (EVs), hybrids, and gas-powered vehicles on the same assembly line. The Japanese automaker had previously announced plans to invest $700 million in these plants in 2022.
"This investment underscores Honda's commitment to Ohio and to the American workforce," said Jennifer Thomas, senior vice president of Honda's U.S. unit. "It will allow us to meet the evolving needs of our customers and the growing demand for electrified vehicles."
Honda is also investing in a joint venture battery plant in Ohio with LG Energy Solution, with a projected investment of $4.4 billion. This investment is part of Honda's broader strategy to increase its presence in the EV market and reduce its carbon footprint.