Honda reportedly plans to invest $2.5 billion in Ohio hybrid plant
HMC•Honda reportedly plans to invest 300 billion to 400 billion yen ($1.90 billion to $2.53 billion) in an Ohio hybrid vehicle plant expected to begin production in 2030. A Honda spokesman said no decision has been made on a new U.S. plant.
1. Ohio plant plans
Honda is in the final stages of preparations for a new hybrid vehicle production plant in Ohio, with investment estimated at 300 billion to 400 billion yen ($1.90 billion to $2.53 billion) and production expected to start in 2030. A Honda spokesman said, “No decisions have been made at this stage regarding a new plant in the US.”
2. Trade deal uncertainty
Honda Executive Vice President Noriya Kaihara said the automaker is close to full production capacity in North America and needs a new factory. He said Honda may change direction if there is no future USMCA agreement, and that the company needs to decide within a year or two.
3. Other production plans
Honda indefinitely suspended its $11 billion Canada EV project this year and canceled three planned EVs for the U.S. market. Last year, it said it would shift production of its U.S.-bound five-door Civic hybrid from Japan to Indiana.
