• LG and Honda are investing $3.5 billion to build an EV battery factory in Ohio.
• In all, 2,200 jobs will be created with the construction and operation of plant.
• Honda will also invest $700 million in its three other Ohio plants, again as part of its electrification plan.
Honda and LG made an important announcement today as they confirmed a $3.5 billion investment to build an EV battery factory in Ohio. In the process, 2,200 jobs will be created.
Honda, which has been present in the northern U.S. state for 45 years, is in the process making Ohio its North American hub. Five of Honda's 12 American factories are located in the sate.
Honda also plans to invest $700 million and add 300 jobs in three existing Ohio plants to prepare the ground for the manufacture of electric vehicles and their components.
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The new plant announced today will be built jointly with South Korea's LG Energy Solution. The site of the new plant is located off Interstate 71, which runs diagonally across the state, in Fayette County, about 60 km southwest of the capital city of Columbus.
The other three facilities benefiting from the $700 million are the Marysville and East Liberty assembly plants northeast of Columbus and the Ana engine plant north of Dayton in the southern part of the state. The latter will also manufacture enclosures for holding battery cells, while the other two plants will build complete electric vehicles.
Construction of the battery plant will begin early next year, with mass production of lithium-ion cells expected to begin by the end of 2025. The plant will produce batteries exclusively for Honda vehicles assembled in North America, including those of the luxury Acura brand.
Honda may be a late bloomer in terms of electrification, but the company is working hard to catch up.