Honda Motor plans to build a $3 billion factory in central Ohio to manufacture its next-generation hybrids, boosting its output capacity for the popular vehicles.
The automaker announced on Monday the new plant will start production in 2029 and expand its output by 240,000 vehicles a year. Honda has been mulling over the decision for months as part of a strategic pivot earlier this year away from all-electric vehicles. It aims to introduce 15 new hybrids globally by March 2030, primarily targeting North America.
“This is not simply an investment in another plant,” Bob Nelson, executive vice president of the company’s U.S. business operations, said at a news conference. “It is an investment in the future of Honda Manufacturing in America.”
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