Suryaa Business Desk: Honda Motor has announced a $3 billion (approximately Rs 25,000 crore) investment to construct a new automobile manufacturing plant in Ohio, USA. The initiative is designed to meet the growing demand for hybrid vehicles in the North American market.
The new facility will be located on company-owned land between Marysville and other areas in central Ohio. The project is expected to create over 2,000 local jobs. Once operational, the plant is projected to add an annual production capacity of 240,000 vehicles, bringing Honda's total annual production capacity in the United States to approximately 1.3 million vehicles.
Honda aims to begin commercial production at the new facility by 2029. The company stated that this strategic investment is in response to the increasing global interest in eco-friendly hybrid and electric vehicles and is intended to strengthen its local supply chain.