The two companies confirmed today that they are building an EV battery plant in Ohio. Honda will be able to qualify for the country's EV tax credits if it establishes a US-based EV plant.
Mass production of EV batteries will start by the end of the century, with construction on the factory beginning early next year. About 2,200 jobs will be supplied by the Honda factory, which will have an annual production capacity of 40GWh.
Honda will invest $700 million to retool three of its existing Ohio-based car plants for EV production. 300 jobs will be created and three plants will be converted into EV hubs.
President Joe Biden signed a bill in August that provides tax credits for electric vehicles assembled in North America. This excludes electric vehicles made outside of the region, such as theHyundai Ionic 5 and Kia EV6, which sparked backlash from foreign manufacturers.
President Biden said that he was leading the world again thanks to his economic plan. Ford, General GM, and Stellantis are all interested in building EV battery plants in the US.
Honda and Acura are getting a head start on their goal of producing 30 EV hybrid, battery-electric, and fuel-cell vehicles by 2030. We recently got a taste of Honda and Acuras upcoming electric vehicles, including the Prologue electric SUV and the Precision EV concept. The EV based on the Precision and the Prologue will both use the Ultium platform.
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