MARYSVILLE, OH—Honda Motor Co. plans to invest $700 million to retool three plants in Ohio for EV production. The facilities are the Anna engine plant and vehicle assembly plants in East Liberty and Marysville.

Honda is also investing $3.5 billion in a joint-venture battery factory with LG Energy Solution. The latter facility will be located 40 miles southwest of Columbus in Jeffersonville, OH.

By 2040, Honda claims that 100 percent of its new vehicles in North America will be powered by batteries and fuel cells. The automaker’s three existing facilities in the Buckeye State, along with the new battery plant, will serve as an EV hub that will leverage the company's production, product development and purchasing operations located in central Ohio.

"This is a very challenging time for our entire industry, but also a very exciting time as Honda invests in full electric vehicle production," says Bob Nelson, executive vice president of American Honda Motor Co., “[We have] built hybrid-electric vehicles in Ohio for a number of years, and the experience and expertise of our associates in manufacturing, product development and purchasing will serve as an important foundation as we transition to the electrified future."

Honda produced and sold a record of more than 100,000 electrified vehicles in the U.S. last year, including the Accord Hybrid, CR-V Hybrid and Insight hybrid sedan.