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AP National Business

Another $237M granted to Honda battery plant project in Ohio

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Published 11:10 AM

By JULIE CARR SMYTH
Associated Press

COLUMBUS, Ohio (AP) — Ohio’s privatized economic development office has finalized an agreement that will infuse another $237 million into Honda’s massive battery plant project in the state. The Japanese automaker envisions the project, being built jointly with LG Energy Solution of South Korea, transforming Ohio into its North American hub for electric vehicles. JobsOhio posted details of its package of three grants Wednesday. They include a $140 million economic development grant for the battery plant, a $10 million workforce grant for the project and $87 million to retool Honda’s existing facilities. The money is payable over 10 years.

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