Honda Motor, LG Energy to build EV battery plant in US

URLhttps://www.reuters.com/business/autos-transportat
SourceReuters
Date Published08/29/2022
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Honda
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Year reshoring announced:2022
Year reshoring implemented or to be implemented:2025
Domestically, the work will be done:Both
Capital investment ($):4400
Country(ies) from which reshored:Japan
State(s) reshored to:OH
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components, Transportation Equipment
Product(s) reshoredEV batteries
What non-domestic negative factors made offshoring less attractive?Supply chain interruption risk/Natural disaster risk/Political instability
What domestic positive factors made reshoring more attractive?Under-utilized capacity, Biden
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