Billion-dollar electric vehicle production plant opening in Ohio thanks to Biden

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By Oliver Willis -August 30, 2022 10:01 AM

Multiple corporations are bringing production — and jobs — to the U.S. following policies championed by President Joe Biden.

Car manufacturer Honda and electronics conglomerate LG announced plans to build a $4.4 billion facility for electric vehicle battery production in Ohio on Aug. 29. The announcement comes two weeks after the Inflation Reduction Act, which contains incentives for consumers to buy electric vehicles with American-made components such as batteries, was signed into law by President Joe Biden on Aug. 15.

The two multinational companies expect the facility's construction to begin in 2023, with the plant ready to commence production by 2025. It is the first investment announced by Honda toward producing their own batteries since the company said it would go all-electric by 2040.

Honda’s CEO Toshihiro Mibe noted in the company's statement that “Honda is committed to the local procurement of EV batteries which is a critical component of EVs. This initiative in the U.S. with LGES [LG Energy Solution Ltd.], the leading global battery manufacturer, will be part of such a Honda approach.”

Published with permission of The American Independent Foundation.

https://americanindependent.com/billion-dollar-electric-vehicle-plant-in-ohio/

[Chainfire]

1. Oh yea? Well, that's not a wall.....;)