Honda’s new $4.4 billion EV battery plant will be built in Ohio

URLhttps://www.cnbc.com/2022/10/11/hondas-new-4point4
SourceCNBC
Date Published10/11/2022
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name LG Energy Solution
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 ($):4400
Country(ies) from which reshored:Japan,Korea, Republic of
State(s) reshored to:OH
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components, Transportation Equipment
Product(s) reshoredlithium-ion batteries
What domestic positive factors made reshoring more attractive?Government Incentives, Inflation Reduction Act, zero emissions policy
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