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Released March 23, 2023 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Last week, Honda Motor Company Limited (NYSE:HMC) (Tokyo, Japan) announced next steps in preparation for its production of electric vehicles (EV) in the U.S., particularly additional efforts to turn Ohio into the company's EV hub. Industrial Info is tracking $4.3 billion worth of project activity attributed to Honda in the U.S., almost all of which is in Ohio.
Honda's project activity in the Buckeye State is buoyed by a joint venture with a subsidiary of LG Chem Limited (Seoul, South Korea), LG Energy Solution Limited (LGES), which is constructing a $3.5 billion EV battery-manufacturing plant near Jeffersonville that will supply batteries to Honda facilities in North America and power EVs from both Honda and Acura. Honda expects the project's total investment to reach $4.4 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project and Plant databases can click here for a detailed project report and click here for a plant profile.
Honda plans to transform two of its Ohio plants, according to the March 14 press release: the Marysville Auto Plant (MAP), which will be the company's first automotive plant to transition to EV production, and the Anna Engines Plant (AEP). Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Plant Database can see detailed profiles on the Marysville and Anna plants.
The automaker said it plans to begin EV production at the Marysville plant as early as January 2024, by consolidating two production lines currently making internal combustion vehicles (ICE) and hybrid-electric vehicles. Based on that consolidation, Honda will transfer production of the Honda Accord to the Indiana Auto Plant in Greensburg, Indiana. Click here for a plant profile on the Indiana plant.
Lastly, at the plant in Anna, Ohio, Honda will transfer component production for two different generations of engines to its Lincoln Automotive Vehicles & Engines plant in Alabama.
Last year, Honda announced investments to retool the Marysville and Anna plants as well as the East Liberty Auto Plant in Ohio, at a projected cost of $250 million each. The projects are expected to kick off in May. The Marysville project is aimed at assembling EV battery cases and modules; the Anna project will allow for the assembly of battery modules that will be combined with those from the battery-manufacturing joint venture project; and the East Liberty project will allow Honda to install completed battery units in EVs. Subscribers can click here for the project reports.
Honda hopes to phase out gasoline-powered vehicles in North America by 2040, and the automaker plans to invest at least $40 billion through 2030 to push hybrid and fully electric vehicles to 40% of its sales by the end of the decade.
However, it will continue its current production of internal-combustion and hybrid-electric vehicles, "in order to continue to meet anticipated strong customer demand through 2030 and beyond," according to the March 14 press release. "The sustained success of ICE and hybrid-electric vehicle sales also will support the required investment in the electrified future."
Last year, Honda announced a partnership with General Motors Company (NYSE:GM) (Detroit, Michigan) to codevelop affordable EVs based on utilizing GM's Ultium battery technology. For more information, see Industrial Info's April 6, 2022, article - GM, Honda Partner to Develop Cheaper Electric Vehicles.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a list of Honda projects worldwide.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Honda's project activity in the Buckeye State is buoyed by a joint venture with a subsidiary of LG Chem Limited (Seoul, South Korea), LG Energy Solution Limited (LGES), which is constructing a $3.5 billion EV battery-manufacturing plant near Jeffersonville that will supply batteries to Honda facilities in North America and power EVs from both Honda and Acura. Honda expects the project's total investment to reach $4.4 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project and Plant databases can click here for a detailed project report and click here for a plant profile.
Honda plans to transform two of its Ohio plants, according to the March 14 press release: the Marysville Auto Plant (MAP), which will be the company's first automotive plant to transition to EV production, and the Anna Engines Plant (AEP). Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Plant Database can see detailed profiles on the Marysville and Anna plants.
The automaker said it plans to begin EV production at the Marysville plant as early as January 2024, by consolidating two production lines currently making internal combustion vehicles (ICE) and hybrid-electric vehicles. Based on that consolidation, Honda will transfer production of the Honda Accord to the Indiana Auto Plant in Greensburg, Indiana. Click here for a plant profile on the Indiana plant.
Lastly, at the plant in Anna, Ohio, Honda will transfer component production for two different generations of engines to its Lincoln Automotive Vehicles & Engines plant in Alabama.
Last year, Honda announced investments to retool the Marysville and Anna plants as well as the East Liberty Auto Plant in Ohio, at a projected cost of $250 million each. The projects are expected to kick off in May. The Marysville project is aimed at assembling EV battery cases and modules; the Anna project will allow for the assembly of battery modules that will be combined with those from the battery-manufacturing joint venture project; and the East Liberty project will allow Honda to install completed battery units in EVs. Subscribers can click here for the project reports.
Honda hopes to phase out gasoline-powered vehicles in North America by 2040, and the automaker plans to invest at least $40 billion through 2030 to push hybrid and fully electric vehicles to 40% of its sales by the end of the decade.
However, it will continue its current production of internal-combustion and hybrid-electric vehicles, "in order to continue to meet anticipated strong customer demand through 2030 and beyond," according to the March 14 press release. "The sustained success of ICE and hybrid-electric vehicle sales also will support the required investment in the electrified future."
Last year, Honda announced a partnership with General Motors Company (NYSE:GM) (Detroit, Michigan) to codevelop affordable EVs based on utilizing GM's Ultium battery technology. For more information, see Industrial Info's April 6, 2022, article - GM, Honda Partner to Develop Cheaper Electric Vehicles.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a list of Honda projects worldwide.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
