Honda to Spend $200 Million to Expand Ohio Factories
Honda Motor Co., the No. 2 Asian automaker in U.S. light-vehicle sales, said it will spend $200 million on engine and transmission factories in Ohio and hire 200 workers there.
The expansion of Honda’s engine plant in Anna and a transmission factory in Russells Point is part of Honda’s $1.2 billion in spending on U.S. plants the past two years, the company said yesterday in an e-mailed statement.
North America, which accounted for 44 percent of Honda Motor’s revenue last fiscal year, is taking on a larger role for the Tokyo-based company. Honda’s eighth auto plant in the region is being built in Mexico and, when it opens in 2014, will expand capacity to 1.92 million units from 1.63 million.
Honda produced the first Japanese car made in America 30 years ago yesterday and was the first Japanese automaker to build engines and transmissions in the U.S. and export U.S.- built vehicles overseas, according to the company’s website. The company employs more than 26,000 people in the U.S. in sales, manufacturing and product development.
The company’s U.S. sales of light vehicles rose 22 percent to 1.17 million this year through October. Honda’s vehicle total is more than any other Asian automaker except Toyota Motor Corp. (7203)’s 1.73 million.
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