TOKYO (dpa-AFX) - Honda Motor Co Ltd. (HMC) plans to invest $3 billion in a new automobile plant in central Ohio to manufacture hybrid vehicles, creating approximately 2,000 jobs. The facility is expected to begin production in 2029, with an annual capacity of 240,000 vehicles.
The expansion will increase Honda's U.S. vehicle production capacity to 1.3 million units annually and its North American capacity to 1.9 million units annually. The company also plans another $338 million investment in Ohio, alongside additional investments in Georgia and Alabama.
Honda is committing C$867 million to its Canadian operations, including C$166 million for its Alliston facility, where it will maintain a workforce of 4,000. The Canadian government is contributing C$313 million to the Alliston project.
The investments come as Honda shifts its focus towards hybrids after scaling back its electric vehicle ambitions and suspending an $11 billion Canadian EV project.
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