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Honda to invest $3B in new Ohio auto plant, boosting U.S. hybrid production capacity
HMCHonda Motor Co Ltd
Honda Motor Co., Ltd. announced a $3 billion investment to construct a new automobile manufacturing facility in Central Ohio, with production expected to begin in 2029 pending final government approvals. The new plant will add an annual capacity of 240,000 vehicles and create more than 2,000 jobs. This project is part of a broader strategy that includes investments at existing facilities in Alabama, Georgia, and Canada to expand hybrid-electric vehicle production and engine manufacturing. These initiatives aim to strengthen Honda's integrated North American production network and meet growing customer demand for hybrids. The transaction is not anticipated to have a material impact on consolidated financial results for the fiscal year ending March 31, 2027. Honda Motor Co., Ltd. designs, manufactures, and sells automobiles, motorcycles, power products, and aircraft globally.