An employee inspects the door of a 2018 Honda Accord vehicle during production at the Honda of America Manufacturing Inc. Marysville Auto Plant in Marysville, Ohio, on Thursday, Dec. 21, 2017.
Honda Motor and LG Energy Solution on Tuesday said a new multibillion-dollar plant to produce batteries for electric vehicles will be located in Ohio.
The battery plant is expected to cost $3.5 billion, with overall investment by the unnamed joint venture eventually reaching $4.4 billion, the companies said.
Honda and LGES announced plans for the joint venture and battery plant last year, but had not revealed a location.
In addition to the new battery plant, Honda on Tuesday said it plans to invest $700 million to retool several of its existing auto and powertrain plants for production of EVs.