In a couple of years, where there is now a stony, desolate area along Ohio 729, a facility the size of 78 football fields will exist, producing electric vehicle batteries for Honda cars built in the United States. On Tuesday, state and local officials in Ohio joined executives from Honda and LG Energy Solution to officially begin construction on the massive plant that will invest $3.5 billion of an expected $4.4 billion in electric vehicles.
Over 2,200 people will be employed by the plant. It’s about an hour and a half east of Hamilton, about 40 minutes south of Springfield, and 50 minutes southeast of Dayton. The directors of the joint venture anticipate recruiting members of the local community as well as other areas. “Fayette County, geographically, it’s the perfect spot for this joint venture,” the COO of the joint venture, Rick Riggle, said.
“We call it a ‘sweet spot’ between Columbus, Dayton, Cincinnati — it’s a great location. And it’s centrally located to Honda operations.” According to a report by McKinsey & Co, the global demand for EV batteries is projected to increase by roughly 30% by 2030, reaching nearly 4,500 GWh annually.
When asked about the supply chain and material issues in that market, Robert Lee, CEO of the new joint venture, claimed that no other company was as savvy as his. “Overall, it’s rapid growth in the lithium-ion battery demand,” Lee said.
As per Reports of Dayton Daily News,
“Of course, there are concerns about some of the raw materials, lithium most notably. But I would say we’re better off and further along in terms of securing long-term commitments for those raw materials than any other company in the world.”
In November 2022, the joint venture spent roughly $23.3 million to purchase 454 acres in Fayette County, where the facility would eventually be built. Fayette County deed documents show that on November 7 Honda Development & Manufacturing of America LLC paid Martin Land Co. $23,268,935.
Our coverage of county news is constantly evolving – keep reading to see what we’ve been working on recently:
- Deputy County Manager Appointed by Johnson County Government
- Winter Storm Prompts Emergency Declaration in San Bernardino County
Around the intersection of Ohio 729 and Interstate 71 (to the west) is the future site of the plant. Off of I-71, construction and earthmoving machinery have been visible for weeks. Honda aims to spend beyond the new factory to establish a central “EV Hub” in Ohio. Together with the new vehicle battery facility, the business would invest $700 million in retrofitting three current auto facilities.
Traditional internal combustion engine vehicles will still be manufactured for the foreseeable future. Every single one of the batteries manufactured at the new joint venture plant in Fayette County will be shipped directly to Honda factories in North America to fuel Honda’s battery-electric vehicle sales in North America. By the end of 2025, the factory plans to begin mass-producing pouch-type lithium-ion batteries, with an annual manufacturing capacity of around 40 GWh.
You can bookmark our website, county cureent.com, to check for recent updates whenever you’re interested in reading more news and information about counties.
