Honda Reveals Next Steps To Boost EV Production In US; Moves Accord Production To Indiana

Honda Motor Co Ltd HMC has revealed its next steps in establishing its EV Hub in Ohio.
In October 2022, Honda announced that it would invest $700 million to retool several of its existing auto and powertrain plants to establish the new EV Hub in Ohio, to prepare for the production of battery electric vehicles in 2026.
The Marysville Auto Plant (MAP), where Honda began auto production in America in 1982, will be Honda’s first auto plant in the U.S. to transition to making EVs.
As part of the EV Hub in Ohio, Honda will transform its Marysville Auto Plant (MAP), East Liberty Auto Plant (ELP), and Anna Engine Plant (AEP), leading to the start of EV production in North America.
Also Read: Honda, LG Energy Solution Formally Establish Battery Production JV
Marysville Auto Plant (MAP) will consolidate two assembly lines to retool for production of EVs and EV components.
Based on the intended consolidation of production lines at MAP, production of the Honda Accord will transfer to the Indiana Auto Plant (IAP) in 2025.
Honda Transmission Plant in Georgia will dedicate one production line to e-axle production, an essential component of EVs.
AEP will transfer component production for two different generations of engines to the engine plant at the Alabama Auto Plant (AAP).
Honda plans to sustain current ICE and hybrid-electric vehicle production in order to continue to meet anticipated strong customer demand through 2030 and beyond, even as it boosts electrification.
Also Read: Honda Motor Clocks 20% Sales Growth In Q3
Price Action: HMC shares are trading lower by 1.85% at $25.24 on the last check Tuesday.
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