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

Ohio’s privatised economic development office has finalised an agreement with Honda to infuse USD 237 million into development of a massive battery plant project that the Japanese automaker plans to use to transform the state into its North American electric vehicle hub.

JobsOhio posted details of the package of three grants on Wednesday. They include a USD 140 million economic development grant for the plant Honda is building jointly with LG Energy Solution of South Korea, a USD 10 million workforce grant for the project itself and USD 87 million to retool Honda’s existing facilities.

The money, payable over the next 10 years, comes on top of the approximately USD 156.3 million in tax incentives and infrastructure improvements that the state of Ohio is putting toward the project.