Honda’s bringing a $4.4 billion EV battery plant to Ohio
Honda first announced plans to partner with LG Chem to build a $4.4 billion electric vehicle (EV) battery plant back in August, and the two companies confirmed today that the factory’s coming to Fayette County, Ohio. Establishing a US-based EV plant will allow Honda’s upcoming line of plug-in vehicles to qualify for the country’s EV tax credits.
Construction on the factory will begin early next year, with mass production of EV batteries set to start by the end of 2025. Honda says the factory will have an annual production capacity of 40GWh and will supply about 2,200 jobs.
In addition to the joint venture with LG Chem, Honda’s also investing $700 million to retool three of its existing Ohio-based car plants for EV production. The move...