Honda, LG to build $3.5B battery plant, hire 2,200 in Ohio

URLhttps://abcnews.go.com/Business/wireStory/honda-lg
Sourceabc news
Date Published10/11/2022
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
Total number of jobs (added or to be added):2200
Year reshoring announced:2022
Year reshoring implemented or to be implemented:2025
Domestically, the work will be done:In-house
Capital investment ($):3500
Country(ies) from which reshored:Japan
City reshored to:Fayette County
State(s) reshored to:OH
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components, Transportation Equipment
Product(s) reshoredEV batteries, lithium-ion cells
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?Government Incentives, Impact on domestic economy, zero-emissions, IRA
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