Honda to invest $3 billion in new Ohio plant

Honda announced a $3 billion investment to build a new automobile manufacturing plant in Marysville, Ohio, north of Columbus. The company plans to start production at the facility in 2029 to meet rising North American demand for hybrid vehicles.

Bob Nelson, executive vice president of Honda of America, stated the new site will be one of the company's most advanced in the world. He said the project will create more than 2,000 new jobs and add annual production capacity for 240,000 vehicles.

Nelson noted that this expansion is part of a larger set of investments at Honda operations in Ohio, Alabama, and Georgia. The company aims to strengthen its U.S. production network to boost output of hybrid-electric vehicles and the engines and hybrid systems that power them. This new plant joins an existing battery plant in Jeffersonville, which is a joint venture between Honda and LG.

Hybrid vehicles currently account for almost 30% of Honda's product lineup. Nelson said the production system is designed with flexibility to shift output based on customer preferences.

Ohio Governor Mike DeWine, who is the ninth governor to work with Honda during the company's 50-year history in the U.S., called the announcement a milestone. Around the same time, the Ohio Tax Credit Authority approved a tax credit for the project. JobsOhio, the state's non-profit job creation agency, confirmed the deal on its website without providing specific financial details.

The plant will help Honda mark its 50-year anniversary of building products in the United States. Nelson emphasized that the commitment reinforces the long-standing partnership between the company and the state.