Honda's new $4.4 billion EV battery plant will be built in Ohio

Honda Motor and LG Energy Solution connected Tuesday said a caller multibillion-dollar works to nutrient batteries for electrical vehicles volition beryllium located successful Ohio.

Construction of the caller installation – located astir 40 miles southwest of Columbus – is expected to statesman successful aboriginal 2023, followed by wide accumulation of lithium-ion batteries by the extremity of 2025.

The artillery works is expected to outgo $3.5 billion, with wide concern by the unnamed associated task yet reaching $4.4 billion, the companies said.

Honda and LGES announced plans for the associated task and artillery plant past year, but had not revealed a location. The installation is expected to employment astir 2,200 people, the companies said.

In summation to the caller artillery plant, Honda connected Tuesday said it plans to put $700 cardinal to retool respective of its existing car and powertrain plants for accumulation of EVs. The Japanese automaker expects to statesman accumulation and income of EVs successful North America successful 2026.

The announcements are portion of respective caller multibillion-dollar investments successful U.S. accumulation of EVs and batteries amid tightening emissions regulations and authorities to promote home manufacturing.

Automakers are facing stricter sourcing guidelines that are portion of the United States-Mexico-Canada Agreement (formerly the North American Free Trade Agreement) and, much recently, the Inflation Reduction Act. Both policies accrued requirements for domestically sourced conveyance parts and materials successful bid to debar tariffs oregon suffice for fiscal incentives.

Honda has plans to signifier retired accepted interior combustion engines and exclusively connection battery-electric and substance compartment electrical vehicles by 2040 successful North America. It's portion of the company's plans to execute c neutrality by 2050.

LGES – a spinoff from LG Chem – has besides announced associated ventures with General Motors, Hyundai Motor and Jeep shaper Stellantis.