Is Honda planning $2.5B investment in Ohio hybrid vehicle plant?
Honda plans to invest about USD 1.90 billion to USD 2.53 billion in the new facility, which is slated to start production in 2030, Nikkei reports.
Honda Motor is in the final stages of preparations to build a new hybrid vehicle production plant in Ohio, Reuters said, citing a report by the Nikkei business daily.
Honda plans to invest about USD 1.90 billion to USD 2.53 billion in the new facility, which is slated to start production in 2030, Nikkei said.
A senior executive recently said Honda might not build an eighth assembly plant in North America unless a key trade deal was extended.
The US is negotiating with Canada and Mexico over the fate of the free trade deal known as USMCA.
Honda Executive Vice President Noriya Kaihara said last month the Japanese automaker is close to full production capacity in North America and needs a new factory. But he added “if there is no USMCA agreement in the future, we may have to change our direction.”
