Honda Motor Eyes First New North American Factory in Nearly 20 Years With $2.5 Billion Ohio Hybrid Plant: Report
Honda Motor Co., Ltd. (NYSE: HMC ) is reportedly in advanced discussions to establish a hybrid vehicle plant in the U.S., with an investment ranging between 300 billion and 400 billion yen ($1.8 billion to $2.5 billion). The proposed plant could potentially be located in Ohio. If negotiations are successful, the Japanese automaker aims to start operations by 2030, Nikkei Asia reported on Thursday. If it goes ahead, this will be Honda’s first new factory in North America in nearly 20 years. The decision to focus on hybrid vehicles is part of Honda’s strategy to regain its momentum in the market. However, the final decision depends on negotiations over state subsidies, leaving some uncertainty around the plan, as per the report. Honda’s move comes as rising U.S. gasoline prices amid the U.S.-Iran war boost demand for fuel-efficient hybrid vehicles. Honda Motor did not immediately respond to ’s request for comments. Read Also: SoftBank Launches $11.1 Billion Bond Sale to Fund Final $10 Billion OpenAI Investment Tranche Japanese Automakers Expand US Footprint In July, Toyota Motor Corp (NYSE: TM ) decided to shift production of the Tacoma pickup truck from Mexico to Texas, investing $3
, Ltd. 5 billion). The proposed plant could potentially be located in Ohio. If negotiations are successful, the Japanese automaker aims to start operations by 2030, Nikkei Asia reported on Thursday.
If it goes ahead, this will be Honda’s first new factory in North America in nearly 20 years. The decision to focus on hybrid vehicles is part of Honda’s strategy to regain its momentum in the market. However, the final decision depends on negotiations over state subsidies, leaving some uncertainty around the plan, as per the report. S.
-Iran war boost demand for fuel-efficient hybrid vehicles. Honda Motor did not immediately respond to ’s request for comments. 6 billion in the process. This was hailed as a move promoting lower vehicle costs and more consumer choice, according to President Donald Trump ‘s Transportation Secretary Sean Duffy.
3 billion since 2003 and reaffirmed its commitment to operations across North America. Duffy welcomed the investment, highlighting the creation of 2,000 jobs. S. is facing a bipartisan Senate push to permanently block Chinese cars, software, and key components from the American market.
Sens. ) are seeking unanimous Senate approval for the Connected Vehicle Security Act of 2026, which has 51 Senate supporters and more than 100 House cosponsors. S. if they employed American workers.
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