Honda announces new Ohio $4.4B EV battery plant

A joint venture between Honda Motor and LG Energy Solution is bringing a new “multibillion-dollar plant to produce batteries for electric vehicles” to Ohio, reports. The new facility “is expected to cost $3.5 billion, with overall investment by the unnamed joint venture eventually reaching $4.4 billion,” according to the article. The plant, about 40 miles southwest of Columbus, is expected to begin construction in early 2023, “followed by mass production of lithium-ion batteries by the end of 2025,” employing 2,200 people. Honda “expects to begin production and sales of EVs in North America in 2026” as part of its plans to “phase out traditional internal combustion engines” and achieve carbon neutrality by 2050. For more, read the full article.

Economic Development, State Updates