Honda Motor Co. and LG Energy Solution on Tuesday announced that a new electric vehicle battery production plant will be built in Ohio.
The companies will commit to investing $3.5 billion and creating 2,200 jobs, pending final government approvals. The overall investment by the joint venture is projected to reach $4.4 billion.
The plant will be located in Fayette County, Ohio, about 40 miles south of Columbus.
President Biden called the announcement “another win for America and another win for Ohio.”
“As I said at the groundbreaking of Intel’s Ohio factory last month: it’s time to bury the label ‘Rust Belt,’” Biden said in a statement. “Just as my CHIPS and Science Act is spurring record investments in communities across the country, my Inflation Reduction Act is driving a manufacturing boom for electric vehicles. This has been the backbone of my economic plan: America is leading the world again, rebuilding our supply chains, infrastructure and manufacturing here at home.”
Honda will also separately invest $700 million to re-tool several existing plants for the production of electric vehicles.
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